Menu
Input credit
if proprietor taken lic policy on his own name then he can take input credit of it in the proprietorship firm.
Replies (6)
Quick Summary
Helth Insurance is under block credit as per section 17(5) of the CGST act 2017 , you can not take input tax credit in any case .
Its not health but life insurance
Both Life Insurance and Health Insurance are under Block Credit a per section 17(5) (b) (i) of the CGST act 2017 . No ITC .
N on stock insurance
You may avail ITC on stock insurance.
Ok thank u
Recent Topics :
- GST Consultation Required – June–Augus
- TDS Code for Salary Payment to Non-Resident Intern
- TDS on property
- Company data for software
- Car purchase to be eligible for ITC
- GST Refund on payment to builder
- TDS u/s 194Q on electricity supply by DHBVN etc.
- Subject: Can I Apply for Fresh GST Registration on
- Additional place in GST RC
- Company 3 months old, INC-20A not filed, all 3 of
Related Topics :
CAclubindia
