Shop insurance ITC eligibility?

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32 Points Posted on 26 January 2021
Is ITC allowed on shop insurance?
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On 26 January 2021 at 22:13 Report
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This discussion clarifies the eligibility of Input Tax Credit (ITC) for shop insurance under the CGST Act. While life and health insurance ITC is generally blocked under Section 17(5), shop insurance ITC may be claimable. However, eligibility is subject to the provisions of Section 16 read with Rule 36(4) of the CGST Act.

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Chartered Accountant
494 Points Posted on 26 January 2021
You can take only life and health insurance is blocked via section 17(5) of cgst act
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On 26 January 2021 at 23:46
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GST Practitioner
55067 Points Posted on 27 January 2021
Yes ITC can be claimed. but subject to provision of Section 16 ,R/w rule 36(4) of CGST Act
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On 27 January 2021 at 00:03

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