Can we claim deduction on the GST paid on Life Insurance

305 views 4 replies
User Avatar

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

0 Reply Share Follow
On 27 February 2020 at 13:33 Report
Replies (4)
User Avatar

"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.
1 Reply
On 27 February 2020 at 15:21
User Avatar

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
1 Reply
On 28 February 2020 at 00:34
User Avatar

"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...
1 Reply
On 28 February 2020 at 05:17
User Avatar

Professional - CA firm
524 Points Posted on 28 February 2020
Oh my bad..thanks
Reply
On 28 February 2020 at 14:56

Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!

Leave a Reply

Post Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Recent Topic

More recent discussions | Post

Related Topics
Loading

Latest Job Openings

View all
Company
19 June 2026
Accounts Executive

Getfive Advisors Pvt. Ltd.

Ahmedabad

CA Inter

View Details
Company
ARTICLESHIP 09 June 2026
Article Trainee

Numbertree LLP

Mumbai

CA Inter

View Details
Company
04 June 2026
Semi Qualified CA

Goyal Puneet & Associates

New Delhi

CA Final

View Details
Company
Featured 15 June 2026
Senior Auditor

N. Dhawan & Co

New Delhi

CA Inter

View Details
Company
ARTICLESHIP 28 June 2026
Article Assistant

Sharma Chetan And Company

Gurgaon

CA Inter

View Details
Company
ARTICLESHIP 24 June 2026
ARTICLE ASSISTANT

BHUPINDER SHAH AND COMPANY

New Delhi

CA Inter

View Details
Company
ARTICLESHIP 30 June 2026
Article Assistant or Paid Assistant

VIKAS VERMA & CO

New Delhi

Others

View Details
Company
Featured 24 June 2026
HEAD - AUDIT AND TAXATION

A R JADHAV AND ASSOCIATES

Mumbai

CA Inter

View Details