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ITC OF GST CHARGED ON INSURANCE PREMIUM OF CAR

ITC / Input 2278 views 12 replies
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48 Points Posted on 09 October 2017
I am sole proprietor of my business firm.
I have car which is shown in balance sheet of firm (Purchased in my personal name) & is used for running business.
Can I claim ITC of GST charged on insurance premium ?
Can I claim ITC of GST charged by workshop on repairing bill ?
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On 09 October 2017 at 22:12 Report
Replies (12)
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Business and tax consultant
3299 Points Posted on 09 October 2017
no for insurance for repairing you have to get bill with your GST no
3 Reply
On 09 October 2017 at 22:19
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Chartered Accountant
86505 Points Posted on 09 October 2017
You cant claim as car is in your personal name.
814 Reply
On 09 October 2017 at 22:36
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48 Points Posted on 10 October 2017
in bill GST no is printed.
I am sole proprietor of firm
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On 10 October 2017 at 08:08
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"Do the Right Thing...!!!"
128147 Points Posted on 10 October 2017
Yes...
You can get the repair and maintenance charges for your car as using your business purpose....
463 Reply
On 10 October 2017 at 08:44
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48 Points Posted on 10 October 2017
Raja sir,
can I claim ITC of GST on insurance premium ?
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On 10 October 2017 at 08:54
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Chartered Accountant
86505 Points Posted on 10 October 2017
Then you can claim ITC if car is used for business purpose.
814 Reply
On 10 October 2017 at 10:31
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"Do the Right Thing...!!!"
128147 Points Posted on 10 October 2017
Originally posted by : MANOJ KEDIA
Raja sir,can I claim ITC of GST on insurance premium ?

Ohhhhhhhh Yessssssssssss......

463 Reply
On 10 October 2017 at 10:41
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2 Points Posted on 22 February 2018

Sir/Mam,

Please help me to know whether i can claim Input credit on insurance premium paid with GST, in which GSTN is not provided by both the parties (insurer and insured).

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On 22 February 2018 at 12:37
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"Do the Right Thing...!!!"
128147 Points Posted on 22 February 2018
Originally posted by : Taniya Gupta
Sir/Mam,

Please help me to know whether i can claim Input credit on insurance premium paid with GST, in which GSTN is not provided by both the parties (insurer and insured).

 

No...

GSTIN is must in the Invoice....

463 Reply
On 22 February 2018 at 14:37
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135 Points Posted on 09 April 2018
sir my gst no. is printed on car Insurance invoice, can i get itc
as car is my assest in books
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On 09 April 2018 at 22:41
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Chartered Accountant
86505 Points Posted on 09 April 2018
Yes but GST amt not capitalised I.e car shown at taxable value in books.
814 Reply
On 09 April 2018 at 23:03
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Accounting Staff
50 Points Posted on 30 July 2018

can i claim ITC for vehicle insurance paid for bike used for personal purpose??

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On 30 July 2018 at 13:58


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