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Gst credit in case imsurance claim

ITC / Input 247 views 10 replies
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48 Points Posted on 07 August 2017
in case car repair where 90% amount of bill is paid by insurance company and we pay only depreciable or 10% amount. how much gst credit will b available on full amount or 10%.
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On 07 August 2017 at 21:52 Report
Replies (10)
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GST Consultant
15986 Points Posted on 07 August 2017
No credits available on repair of car
55 Reply
On 07 August 2017 at 21:54
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48 Points Posted on 07 August 2017
but y car is used for business.
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On 07 August 2017 at 21:56
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48 Points Posted on 07 August 2017
nd what about if this is case of machinery used for production
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On 07 August 2017 at 21:57
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GST Consultant
15986 Points Posted on 07 August 2017
For what purpose?
55 Reply
On 07 August 2017 at 21:57
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GST Consultant
15986 Points Posted on 07 August 2017
For machinery credits will be available
55 Reply
On 07 August 2017 at 21:58
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48 Points Posted on 07 August 2017
material send to job worker nd reced like
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On 07 August 2017 at 22:00
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48 Points Posted on 07 August 2017
but how much on full invoice value.?
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On 07 August 2017 at 22:00
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GST Consultant
15986 Points Posted on 07 August 2017
If the vehicle is for transportation you will get credits on its repair otherwise not.
55 Reply
On 07 August 2017 at 22:22
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GST Consultant
15986 Points Posted on 07 August 2017
You will show only 10% in your books as repairs therefore credits will be available for 10%.
55 Reply
On 07 August 2017 at 22:27
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1464 Points Posted on 07 August 2017
Presuming that car is totally used for business purpose you have been given 90% reimbursement you may opt for proportionate credit of GST.
4 Reply
On 07 August 2017 at 22:29


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