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ITC OF GST CHARGED ON INSURANCE PREMIUM OF CAR

ITC / Input 2159 views 12 replies

MANOJ KEDIA

48 Points Joined August 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 ?

Replies (12)

g mahesh Mundra

Business and tax consultant

3299 Points Joined September 2017

no for insurance for repairing you have to get bill with your GST no

CA Rashmi Gandhi

Chartered Accountant

86500 Points Joined April 2011

You cant claim as car is in your personal name.

MANOJ KEDIA

48 Points Joined August 2017

in bill GST no is printed.
I am sole proprietor of firm

RAJA P M

"Do the Right Thing...!!!"

128111 Points Joined January 2015

Yes...
You can get the repair and maintenance charges for your car as using your business purpose....

MANOJ KEDIA

48 Points Joined August 2017

Raja sir,
can I claim ITC of GST on insurance premium ?

CA Rashmi Gandhi

Chartered Accountant

86500 Points Joined April 2011

Then you can claim ITC if car is used for business purpose.

RAJA P M

"Do the Right Thing...!!!"

128111 Points Joined January 2015

Originally posted by : MANOJ KEDIA
	Raja sir,can I claim ITC of GST on insurance premium ?

Ohhhhhhhh Yessssssssssss......

Taniya Gupta

2 Points Joined January 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).

RAJA P M

"Do the Right Thing...!!!"

128111 Points Joined January 2015

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....