Can we take GST inupt credit on Car Insurance premium.

Ranjith P (1 Points)

21 March 2023

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NARENDRA (ACCOUNTS MANAGER) (919 Points)
Replied 21 March 2023

yes....... absolutely......

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Sneha Latha (Senior Assistant) (206 Points)
Replied 21 March 2023

No, ITC is not allowed on insurance premium as they relate to motor vehicles.

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C.A. Sandeep Wawhal (Chartered Accountant PGDFM BCom.) (1814 Points)
Replied 21 March 2023

You can claim ITC on motor car expenses(incl. car insurance premium) only if you are engage in 1. Further supply of motor car 2. Providing Training as to Driving of car

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Anant Jain (article clerk) (29 Points)
Replied 21 March 2023

If u are not a trader/ dealer of motor car or u are not in the service of motor driving classes, then u cannot claim input on motor cars. further since input on motor car used for business , other than the two mentioned above , is not available therefore input repairs , insurance service etc related to that motor car also not available to be utilised.

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sabyasachi mukherjee (18835 Points)
Replied 22 March 2023

Provided it's not blocked under sec 17(5).
the car is used for furtherance of business.

CA. Bhavik P. Chudasama (Practice) (1424 Points)
Replied 22 March 2023

https://www.caclubindia.com/articles/sec-17-blocked-credit-under-gst-46741.asp

refer to this article

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Replied 24 March 2023

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