one company is to build roads and that company uses different instrument to build roads Likes:- JCB, Soil compactor etc .so that the company can claim ITC on insurance on this instrument .
Thanks Experts
Yes, you can claim ITC.
Yes ITC will be allowed of the GST component paid in teh premium for insurance of JCB, SOil compactor etc.
ITC is not allowed inon services of general insurance, servicing, repair and maintenance in so far as they relate to motor vehicles(for transportation of passengers) vessels or aircraft.
Naveen Fintech Pvt Ltd
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