GST paid on lic policy

I am the proprietor of a firm.Can i show the ITC amount which is cutting on LIC in my GST portal.

No.... If it's Your self or family policy....

Thank sir.....

Sir I am contributing  every month 1.16% of my Basic salary & DA in EPS under Employees Provident Fund for Higher pension besides 12% EPF share. Can I claim 1.16% share contribution for Income tax computation?

Dear Mr C Bakshi and all of you who have wrongly replied him that GST amount Rs. 250 is Eligible for tax Deduction under section 80C. This is totally wrong answer. Only Premium Amount is eligible under Section 80C which is Rs 10000/-. And GST on Premium is the service charges paid to government for purchasing any policy or any Service etc. It is paid to government in the end of Every Month or consolidated in the end of F.Y. For income tax deduction under 80C, you will need premium paid certificate by LIC and that certificate is exclusive of all taxes (GST/GST on late Fees/CGST/SGST etc). Therefore your CA is right and it is like his daily job and he knows taxe rules better than any of us.

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
30 September 2026
Senior Accountant

Codeboard Technology

Chennai

B.Com

View Details
Company
14 October 2026
Asst. Manager/Dy Manager (Costing)

manufacturing

Pune

CMA

View Details
Company
Featured ARTICLESHIP 06 October 2026
Semi Qualified

AJAY SINGH AND CO LLP

Thane

CA Final

View Details
Company
28 October 2026
Assistant Director/ Associate Director-Finance & Accounting

Krea University

Chennai

CA

View Details
Company
08 October 2026
SALES TELECALLER

HIRE NOVA

Lucknow

Graduate (Any)

View Details
Company
12 October 2026
AUDIT , ACCOUNTS AND TAXATION

KDSS

New Delhi

B.Com

View Details
Company
05 October 2026
Senior Accountant

Vision IT Peripherals Pvt Ltd

Mumbai

B.Com

View Details
Company
24 October 2026
CA Industrial Trainee

Fytomax Nutrition Private Limited

Aurangabad

CA Inter

View Details