This discussion explores the eligibility of GST input tax credit (ITC) for various business insurance policies. Generally, ITC is not available for car insurance, factory building, office building, and warehouse insurance unless capitalised. However, ITC is available specifically in cases of stock insurance.
28 May 2022
whether eligible GST Input on INSURANCE OF GST input on car insurance GST input on stock Insurance GST input on Factory Building and office Building and warehouse insurance
28 May 2022
For business other than car dealing, transportation of passengers and imparting training of driving: 1) Not available 2) Available 3) Available if not capitalised