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Can we claim deduction on the GST paid on Life Insurance

Tax queries 296 views 4 replies
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Finance
31 Points Posted on 27 February 2020

While claiming the Life insurance amount on 80C, the premium paid incl of GST is allowed as deduction or GST is not allowed as deduciton.

Also what is the recourse if Employer is not considering the GST amount paid on Insurance Premium

 

Thanks in advance

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On 27 February 2020 at 13:33 Report
Replies (4)
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"Do the Right Thing...!!!"
128152 Points Posted on 27 February 2020
1. Yes... You can claim deduction for the LIC paid amount u/s 80C with GST amount...

2. If employer can't considering then You will claim through filing of ITR.
464 Reply
On 27 February 2020 at 15:21
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Professional - CA firm
524 Points Posted on 28 February 2020
You cannot claim itc as it is restricted vide section 17(5) of cgst act 17

8820448170
3 Reply
On 28 February 2020 at 00:34
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"Do the Right Thing...!!!"
128152 Points Posted on 28 February 2020
@ Mr Mohit Jagnani.,

Read the query dear...
It's asking about Income Tax. Not for GST...
464 Reply
On 28 February 2020 at 05:17
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Professional - CA firm
524 Points Posted on 28 February 2020
Oh my bad..thanks
3 Reply
On 28 February 2020 at 14:56


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