Building insurance gst

294 views
User Avatar

manager accounts
28 Points Posted on 24 June 2020
can I claim building insurance input credit
0 Reply Share Follow
On 24 June 2020 at 17:19 Report
Replies (4)
Quick Summary
Yes, you can generally claim GST input tax credit on building insurance, provided it's not life or health insurance. Section 17(5) of the CGST Act outlines specific restrictions, including for motor vehicle insurance if the vehicle itself isn't eligible for credit. The key consideration is whether the building is used for office or business purposes.

User Avatar

article Assistant
1644 Points Posted on 24 June 2020
Yes you can claim... Only life insurance and health insurance are exempted...
2 Reply
On 24 June 2020 at 17:33
User Avatar

manager accounts
28 Points Posted on 24 June 2020
Sir which section
Reply
On 24 June 2020 at 17:34
User Avatar

Partner - Audit & Assistance
4825 Points Posted on 24 June 2020

Section 17(5) of CGST Act restricts ITC claim. 17(5)(aa), 17(5)(b)(i) relate to insurance restrictions. 

To add to Mr. Davids answer - motor vehicle insurance is also not eligible where such motor vehicle would not be eligible as credit upon purchase.

1 Reply
On 24 June 2020 at 18:04
User Avatar

Student
23693 Points Posted on 24 June 2020
Sir are you using the Building for Office purpose ???
Reply
On 24 June 2020 at 22:34

Leave a Reply

Post Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Recent Topics :

  1. Belated Return where Form 10IEA filed this year to
  2. GST Reconciliation Tool (2A vs Books) - looking fo
  3. TDS ON PF FORM 19 WITHDRAWAL
  4. Can a virtual office in Mumbai be used for company
  5. Eway and e invoicing in condition where 4 party ar
  6. Bank balance in ITR-3
  7. INCLUDING PROFITS FROM REIT / INVIT IN SHARE TRADI
  8. Tempsens Instruments IPO GMP Allotment Listing dat
  9. Upload Type - Correction. Not showing in TDS filli
  10. Partnership tax audit query

More recent discussions | Post

Related Topics :

Loading