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Itc of insurance of truck
is itc of truck insurance is available or not?
Replies (3)
Hello Sir No itc of Truck insurance is available
As per my knowledge, it is available.
Since the Truck is used for Transportation of Goods, you should have claimed ITC on it. Therefore ITC of General Insurance, Repairs can be claimed as per Proviso to Section 17(5) clause (ab) of the CGST Act 2017.
Experts correct me if I'm wrong.
Regards.
Since the Truck is used for Transportation of Goods, you should have claimed ITC on it. Therefore ITC of General Insurance, Repairs can be claimed as per Proviso to Section 17(5) clause (ab) of the CGST Act 2017.
Experts correct me if I'm wrong.
Regards.
Yes you can claim ITC for truck being used in business for transportation of Goods
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