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Gst input on expenses

BISWAJIT (service) (179 Points)

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.

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2 Replies

anuj pandey (9 Points)
Replied 04 October 2020

If it is used for transportation of goods then allowed.... otherwise not allowed for taking ITC

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Sagar Patel (Tax and Business Consultant) (11611 Points)
Replied 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 Like