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 Topic
- Schedule SI in ITR-2
- What is the easy way to do CA- through foundation
- Schedule FA query for this AY 2026-27
- Business income source for husband and wife
- Set off of LTCL against STCG under section 536(2n)
- Audit Workflow tool
- Is CA through direct entry easy for a commerce stu
- Dividend and withholding tax - DTAA- RSU
- NRI Query: Capital Gains Tax Exemption under Secti
- Royalty payment to UK
Related Topics
CAclubindia
