CAN WE TAKE ITC ON GST PAID IN CAR INSURANCE PRIMIUM WE ARE USING IT FOR THE BUSINESS
& WE HAVE ALSO PAID Rs.14000/- ROTARY CLUB FEES CAN THEY HAVE NOT GIVEN ANY INVOICE
SO WE HAVE TO PAY ANY GST ON RCM BASIC
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Input tax credit
Replies (3)
Corporate policyholders, who have taken general insurance, can enjoy input tax credit on the GST paid on their policies (it was available to them even under service tax).
Life and health insurers will not have input tax credit as it is not available for life and health insurances (as they are for personal purposes). Even corporate policyholders with group life and health insurance for their employees will not enjoy any input tax credit.
Thanks
What Abount the raotary club fees we have to pay any gst on rcm basis
can we claim itc of gst of telephone exp. and electricity exp. of the business..there are used by the org and on the name of organisation..?
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