Avail tax credit
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
29 April 2013
Dear Sir
i have taken insurance policy for stock for the purpose of CC A/c. may claim tax credit on insurance premium and also i paid premium for car which is fixed assets of my company may i claim credit on paid premium
i have taken insurance policy for stock for the purpose of CC A/c. may claim tax credit on insurance premium and also i paid premium for car which is fixed assets of my company may i claim credit on paid premium
29 April 2013
Credit will be available on insurance premium on stock as it is for the routine purpose of business.
However the credit on insurance of car shall not be available as per the Cenvat credit rules.
However the credit on insurance of car shall not be available as per the Cenvat credit rules.
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