GST input credit on Lic
can we take input for paid on Lic.
Replies (7)
No...
So the value which was paid with the premium, what will be treated.
Are you asking about...?!
the tax amount which was paid with Lic ,is that also a Lic premium value....
Yes... If You are asking about Income Tax deduction...
You cannot take ITC as per sec17(5)
You can take deduction in income tax but it's blocked in gst
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