Input tax credit reg
This query is : Resolved
B SRINIVAS
(Querist)
06 December 2017
Dear sir we are works contractor company we paid contractor all risk policy premium with gst @ 18% can we avail ITC for this transaction kindly tell me
CA R SEETHARAMAN
(Expert)
06 December 2017
Yes ITC can be claimed on such policy.
06 December 2017
life insurance and health insurance is not eligible as there is specific restriction on the same
Other than that, GST paid in all kinds of insurance are eligible subject to use of said service for taxable supply
Other than that, GST paid in all kinds of insurance are eligible subject to use of said service for taxable supply
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