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?
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Itc of Term Insurance
Replies (4)
Quick Summary
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.
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