Can we claim deduction on the GST paid on Life Insurance

Tax queries 224 views 4 replies
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Finance
31 Points Joined May 2011

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
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"Do the Right Thing...!!!"
128121 Points Joined January 2015
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.
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On 27 February 2020 at 15:21
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Professional - CA firm
524 Points Joined July 2013
You cannot claim itc as it is restricted vide section 17(5) of cgst act 17

8820448170
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On 28 February 2020 at 00:34
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"Do the Right Thing...!!!"
128121 Points Joined January 2015
@ Mr Mohit Jagnani.,

Read the query dear...
It's asking about Income Tax. Not for GST...
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On 28 February 2020 at 05:17
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Professional - CA firm
524 Points Joined July 2013
Oh my bad..thanks
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On 28 February 2020 at 14:56


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