DEAR SIR, CAN WE CLAIM SGST and CGST charge on insurance of our passenger car policy and car is registered in RTO with company name used for proprietor traveling .
kindly confirm if ITC available and in which section of law this credit is eligible to us.
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Replies (19)
No....
Above said way it's used by individual......
FIRM NAME IS WRITTEN ON RC OF CAR AND ALSO IN INSURANCE WITH GSTIN NUMBER
No you cant claim as per Sec 17 of CGST Act.
| Originally posted by : Parv Kumar | ||
 |
No you cant claim as per Sec 17 of CGST Act. |  |
Yes... I Agreed To Mr. Parv Kumar...
if car is used for business purpose
For what purpose????
for proprietor traveling, meeting ,ec
Then also no ITC available.
ITC available only of vehocle used for hiring or transport of goods of business....
ITC available only of vehocle used for hiring or transport of goods of business....
Mam in previous car insurance form you have said CA Rashmi Gandhi  10 October 2017. Then you can claim ITC if car is used for business purpose.
Yes you can claim if used for furtherance of business but here it is not used for business pupose .....
We understand ITC can't be claimed on car purchase invoice ..... But can we take ITC of GST charged on insurance premium of Car which is booked as expense in P&L ?
kinfly let me know how the 4 Wheeler of proprietor can be used for the furtherance of business if car RC and insurance both are in the name of company
Just like other utilities like telephone, mobile, electricity etc. essential in business car is used for various conveyance needed in business
you are correct, yes yogesh mundra ji, but how can we say that it is used in furtherance of business and under which section allows this proprietor car to claim itc of insurance charges, our car petrol used is from debit card of Proprietorship firm if everything is done from firm then whats left to show this is not used for the furtherance of business
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