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ITC eligible
Is ITC eligible on insurance of motor vehicles?
Replies (3)
u/s 17(5) motor vechile kept restricted for ITC. how ever there is not specified for repairs and insurance. it takes small amount so ITC should be available for this. this has been matter of debate due to there is not clarity on law. so we can take ITC as practically we are doing by interpreting law.
Yes, There is no CLEARLY define anout that provision.. however businesses are taking the credit.
So its my personal opinion, if anybody have different view then views are welcome. thanks. Disclaimer: its not Professional Advice.
So its my personal opinion, if anybody have different view then views are welcome. thanks. Disclaimer: its not Professional Advice.
Thank Sir
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