ITC on Insurance

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629 Points Posted on 24 May 2020
Dear Sir,
we have done insurance in stock from united India insurance company. Bill reflect in 2A please advise can we Claim ITC on this Bill.
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On 24 May 2020 at 16:09 Report
Replies (5)
Quick Summary
This discussion clarifies whether businesses, specifically suppliers of marble cut pieces, can claim Input Tax Credit (ITC) on insurance premiums paid to United India Insurance Company. The consensus is that ITC on such insurance bills is claimable under GST regulations. This advice is confirmed for businesses involved in supplying marbles.

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B.Com (H) CA
70 Points Posted on 24 May 2020
Yes it can be claimed.Also could you state what business are you engaged in?
1 Reply
On 24 May 2020 at 17:31
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629 Points Posted on 24 May 2020
Sir, we are Supplier of Marbles cut pieces
1 Reply
On 24 May 2020 at 17:36
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B.Com (H) CA
70 Points Posted on 24 May 2020
Yes you can claim.
1 Reply
On 24 May 2020 at 20:44
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629 Points Posted on 24 May 2020
Thank you Sir
1 Reply
On 24 May 2020 at 21:02
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GST Practitioner
55067 Points Posted on 25 May 2020
Yes can avail
1 Reply
On 25 May 2020 at 00:27

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