CA. Sourav Sarkar
(Chartered Accountant )
(24578 Points)
Replied 03 April 2021
CMA Poornima Madhava
(CMA)
(13097 Points)
Replied 03 April 2021
What kind of insurance for the shop?
Shivam RC
(Student)
(23683 Points)
Replied 03 April 2021
Pankaj Rawat
(GST Practitioner)
(55032 Points)
Replied 04 April 2021
debora M
(BUSINESS DEVELOPMENT MANAGER)
(1697 Points)
Replied 05 April 2021
you cannot claim such ITC. Corporate policyholders, who have taken general insurance, can enjoy input tax credit on the GST paid on their policies (it was available to them even under service tax). Life and health insurers will not have input tax credit as it is not available for life and health insurances (as they are for personal purposes).
CA Puja Sharma
(Chartered Accountant)
(4874 Points)
Replied 05 April 2021
In my opinion ITC is available of Shop Insurance to the business.
NARENDRA
(ACCOUNTS MANAGER)
(1488 Points)
Replied 05 April 2021
YES ITC IS AVIALABLE & YOU CAN CLAIM ITC FOR THAT ............. ............
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