Can insurance premium
This query is : Resolved
16 September 2021
Can we claim gst charged on car insurance premium ? We are suppliers of Iron and steel goods and fabrics. Car is in our proprietorhip firms name.
16 September 2021
Car is used for personal transportation. ITC can't be claimed on it's insurance premium.
16 September 2021
We use car for visit to party and for Collection from party.
16 September 2021
We claim depreciation on car in Income tax
16 September 2021
ITC not allowed on cars.
17 September 2021
ITC on motor vehicles used for transportation of persons having seating capacity less than 13 is not available.
17 September 2021
Gst on repairs of car also not available for inputs?
17 September 2021
Yes, ITC on repairs & maintenance, insurance related to such motor vehicles (in your case) are not allowed other than for those taxable supplies as mentioned in the Act.
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