Gst input on expenses

360 views
User Avatar

service
179 Points Posted on 04 October 2020
I have a query regarding gst. General insurance paid for factory premises, car insurance paid for transport of goods for factory purposes are eligible to take gst input. Please suggest me.
0 Reply Share Follow
On 04 October 2020 at 09:30 Report
Replies (2)
Quick Summary
This discussion clarifies GST input tax credit eligibility for insurance expenses. General insurance for factory premises is eligible. Car insurance is generally not eligible, even if used for business. However, insurance for goods carriage vehicles like trucks is eligible if used for business purposes.

User Avatar

9 Points Posted on 04 October 2020
If it is used for transportation of goods then allowed.... otherwise not allowed for taking ITC
1 Reply
On 04 October 2020 at 10:13
User Avatar

Tax and Business Consultant
11616 Points Posted on 04 October 2020
1. General insurance paid for factory premises.... Allowed.
2. Car insurance....not allowed, whether used for business purposes or not
3. Goods carriage Vehicle insurance like trucks ect...... allowed if used for business purposes.
1 Reply
On 04 October 2020 at 10:33

Leave a Reply

Post Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Recent Topics :

  1. Last Date To Fill ITR For Non-Audit Case
  2. Guidance Required on Filing Fresh Registration und
  3. IT Return Refund Status AY 2026-27
  4. Clarification Regarding Income Tax Demand Notice
  5. Online PAN Download: Check How?
  6. Demand of Late fee/Interest under section 75 of GS
  7. DSC registration on TRACES portal
  8. Can we get registered for MCA if we get a Virtual
  9. DONATION PAYMENT REG
  10. GST IDS Refund – Statement 01A: Invoice Not

More recent discussions | Post

Related Topics :

Loading