Dear All,
If partnership paid the premium of Insurance of partner,
whether they can claim the Gst credit in it?
OR If individual Pay the GST on insurance can he claim so through Proprietor business?
Menu
Itc of Term Insurance
Replies (4)
No ITC might not be claimed
Helth Insurance and Life Insurance are under block credit under section 17(5) of the CGST act 2017 .
ITC cannot be claimed
ITC could be availed only if it is related to business such as stock or building insurance. Health, Life insurance cannot be availed.
Recent Threads
- GST Rule 14A for Export of Service with Hypothetic
- GST ON QUERY
- Initimation on AIS
- GST on sponsorship from foreign body corporate
- Revised Income tax return karna padega kya
- Registration as deductor on traces site
- Rental Income from a Joint Holding property
- Itr 4 return filing question
- Whether GST applicable on Hardship Compensation pa
- ITC cannot be denied to Bona Fide Buyers for Suppl
Related Threads
CAclubindia
