ITC claim against stock insurance

whether stock insurance can be claimedas input tax credit in GST return???
Replies (14)
Quick Summary
This discussion clarifies whether stock insurance premiums are eligible for Input Tax Credit (ITC) under GST. The consensus is that ITC can indeed be claimed on insurance for stock, including raw materials and manufactured goods. The procedure is straightforward, similar to claiming ITC on stock purchases, and does not require any special steps.

Yes... You can claim ITC for the Insurance of Stock...
Raja bro what is the procedure to claim this ITC
Procedure....?!
No more special procedure for this...!
Means we can claim it like we claim on stock purchase
Here I mean Stock as "Manufacturing goods, Raw Materials, Consumables and others items".

What You mean stock here...?!
I mean that what I'm selling
Dear.,

What You selling...?!
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
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...?!
OK bhai
So like that we can claim ITC on our capital goods like machinery
Mm yes...
Thanks bhai
You are most welcome Dear Mr Mohd Khalid...

You are good going in CCI.
Capital goods-ITC is to be the entry for claiming ITC

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