Input tax credit

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Assistant
362 Points Posted on 24 May 2020
Sir

Can we claim ITC on insurance
insurance on goods stock bill show in 2A
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On 24 May 2020 at 17:39 Report
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Quick Summary
Yes, you can claim Input Tax Credit (ITC) on insurance for your stock. This applies even if you are a railway supplier. As long as the insurance expense is incurred in furtherance of your business and the bill is reflected in your GSTR-2A, you are eligible to avail the ITC.

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64 Points Posted on 24 May 2020
Yes you can avail input credit of GST paid on stock insurance as it is an expense incurred in furtherance of business.
1 Reply
On 24 May 2020 at 19:08
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2 Points Posted on 24 May 2020
Can I claim ITC I am a railway supplier. the HSN code is 86
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On 24 May 2020 at 23:17
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GST Practitioner
55067 Points Posted on 25 May 2020
Yes can be avail.
1 Reply
On 25 May 2020 at 00:25
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Student
23693 Points Posted on 25 May 2020
Yes you can avail ITC on Insurance Bill reflected in your GSTR-2A.
3 Reply
On 25 May 2020 at 21:03

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