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ITC on insurance premium

ITC / Input 1396 views 7 replies
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19 Points Posted on 23 February 2018
can I claim ITC on insurance premium paid for LIC, stock insurance, life insurance etc
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On 23 February 2018 at 15:58 Report
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PROFESSIONAL
1777 Points Posted on 23 February 2018

Yes, subject to the condtions incorporated in section 16 and 17 of CGST Act.

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On 23 February 2018 at 16:40
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19 Points Posted on 23 February 2018
thanks for reply
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On 23 February 2018 at 16:56
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banglore
1496 Points Posted on 23 February 2018
ITC on life insurance medical insurance is restricted u/s 17(5) of CGST Act
6 Reply
On 23 February 2018 at 21:00
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19 Points Posted on 23 February 2018
it means we can't claim ITC on insurance. can you give me on which insurance we can claim ITC
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On 23 February 2018 at 21:22
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19 Points Posted on 23 February 2018
one or two examples
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On 23 February 2018 at 21:23
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banglore
1496 Points Posted on 23 February 2018
General insurance like stock insurance, transit insurance, fixed asset insurance is allowed if it is used in the course of business
6 Reply
On 23 February 2018 at 21:32
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19 Points Posted on 23 February 2018
that's good reply
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On 23 February 2018 at 21:54


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