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

VISHRUT

VISHRUT (Expert)
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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.