ITC of General insurance


This query is : Open 

Quick Summary
Transporters can indeed claim Input Tax Credit (ITC) on vehicle insurance for vehicles used in passenger or goods transport services. This is because the ITC is not restricted under Section 17(5) of the relevant tax legislation. Therefore, you are eligible to claim this credit.

22 January 2021 Can a Transporter take ITC of vehicle insurance of vehicle used for passenger/ goods transport service ?

22 January 2021 Yes he can take the ITC as the ITC not being restricted under section 17(5).

24 January 2021 Yes you can


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