can we claim ITC on pre-paid marine insurance policy as the provision says that ITC can be claimed once the services are received. so, from which period are services received considered an when can we claim ITC for the same
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Quick Summary
This discussion explores the eligibility for claiming Input Tax Credit (ITC) on prepaid marine insurance policies. The key question revolves around when services are considered 'received' according to provisions, as ITC can typically be claimed upon service receipt. Participants also discuss whether ITC can be availed based on the invoice date.