Can we claim ITC on factory insurance

ramu (student) (74 Points)

09 January 2019

friends,

please help me with as per provisions of GST, can I Claim ITC on factory insurance paid?

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7 Replies

Hemanshu Bakshi (77 Points)
Replied 09 January 2019

yea ....ITC available

pritesh (CA Final student) (7101 Points)
Replied 09 January 2019

yes you can claim.
because it is for business

Vinod Babu (24191 Points)
Replied 09 January 2019

ITC is available on insurance paid for the above case as it is in course & furtherance of Business.

Pankaj Rawat (GST Practitioner) (55052 Points)
Replied 10 January 2019

If it is in regard to machinery, stock yes you can but in regard to building then No...block under section 17(5)

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ramu (student) (74 Points)
Replied 10 January 2019

it is related to factory, where we are carrying out the manufacturing activities

manoj (student) (5205 Points)
Replied 10 January 2019

YOU CAN CLAIM

Nagabhushana Guntreddi (31 Points)
Replied 08 February 2019

For Furtherance of business you can clam ITC on factory insurance...

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