ITC claim against stock insurance

ITC / Input 6761 views 14 replies
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No
105 Points Joined June 2012
whether stock insurance can be claimedas input tax credit in GST return???
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On 01 February 2020 at 18:02 Report
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"Do the Right Thing...!!!"
128116 Points Joined January 2015
Yes... You can claim ITC for the Insurance of Stock...
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On 01 February 2020 at 18:08
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493 Points Joined September 2019
Raja bro what is the procedure to claim this ITC
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On 01 February 2020 at 18:57
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"Do the Right Thing...!!!"
128116 Points Joined January 2015
Procedure....?!
No more special procedure for this...!
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On 01 February 2020 at 19:06
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493 Points Joined September 2019
Means we can claim it like we claim on stock purchase
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On 01 February 2020 at 19:08
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"Do the Right Thing...!!!"
128116 Points Joined January 2015
Here I mean Stock as "Manufacturing goods, Raw Materials, Consumables and others items".

What You mean stock here...?!
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On 01 February 2020 at 19:17
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493 Points Joined September 2019
I mean that what I'm selling
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On 01 February 2020 at 19:29
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"Do the Right Thing...!!!"
128116 Points Joined January 2015
Dear.,

What You selling...?!
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On 01 February 2020 at 19:34
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493 Points Joined September 2019
Bro I think you are not getting my point
Here I mean stock is the thing for which I'm doing trading means sale purchase
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On 01 February 2020 at 19:59
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"Do the Right Thing...!!!"
128116 Points Joined January 2015
I got it already from Querist & after that Your question...

but, You can't ask it directly by your question...

Right now.,
If You are taking insurance for/on stock then You can claim ITC for insurance bill...

Any doubt now...?!
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On 01 February 2020 at 20:02
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493 Points Joined September 2019
OK bhai
So like that we can claim ITC on our capital goods like machinery
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On 01 February 2020 at 20:05
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128116 Points Joined January 2015
Mm yes...
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On 01 February 2020 at 20:05
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493 Points Joined September 2019
Thanks bhai
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On 01 February 2020 at 20:06
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"Do the Right Thing...!!!"
128116 Points Joined January 2015
You are most welcome Dear Mr Mohd Khalid...

You are good going in CCI.
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On 01 February 2020 at 20:17
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Accountant
84 Points Joined May 2019
Capital goods-ITC is to be the entry for claiming ITC
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On 01 February 2020 at 20:38


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