ITC on vehicle insurance

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The discussion explores whether Input Tax Credit (ITC) can be claimed on vehicle insurance. Generally, ITC is not available for car insurance. However, if the vehicle is used for furtherance of business, such as commercial vehicles used for loading, unloading, or goods delivery, GST on the insurance may be claimable. Specific details about the vehicle and its use are crucial for a definitive answer.

S.K.Gupta

S.K.Gupta (Querist)
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05 January 2021 Kindly suggest : Can be claim ITC on vehicle insurance

Lekhraj sood

Lekhraj sood (Expert)
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06 January 2021 If you are talking of Car insurance then not available.

Gokul Sharma

Gokul Sharma (Expert)
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06 January 2021 if the vehicle is furtherance of business then GST on insurance can be claimed.

Lekhraj sood

Lekhraj sood (Expert)
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06 January 2021 No,it can not be claimed.

Gokul Sharma

Gokul Sharma (Expert)
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06 January 2021 WHY SIR IF COMMERCIAL VEHICLE USED IN BUSINESS THEN WHY NOT ALLOWED.

Lekhraj sood

Lekhraj sood (Expert)
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06 January 2021 What is commercial vehicle.Give complete facts- What is the vehicle and what for it is used.If you ask general question then we can give only general reply.

Gokul Sharma

Gokul Sharma (Expert)
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06 January 2021 COMMERCIAL VEHICLE MEANS WHICH ARE USED IN THE FACTORY FOR LOADING UNLOADING / GOODS DELIVERY ETC WORK.

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