I want to Know whether gst paid on insurance policy taken by a business proprietor for himself can be claimed as ITC?
Regards
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ITC of gst on insurance policy
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No,because it is blocked credit so you can't take credit of life insurance and the same is given u/s 17(5)(b) of GST Act . GST input credit of insurance policy can only avail by those persons who himself engaged in insurance business.
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