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Can we take GST inupt credit on Car Insurance premium.

Ranjith P (1 Points)

21 March 2023

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7 Replies

NARENDRA (ACCOUNTS MANAGER) (2179 Points)
Replied 21 March 2023

yes....... absolutely......

1 Like

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Sneha Latha (Senior Assistant) (218 Points)
Replied 21 March 2023

No, ITC is not allowed on insurance premium as they relate to motor vehicles.

1 Like

C.A. Sandeep Wawhal (CA, PGDFM, BCom) (1831 Points)
Replied 21 March 2023

You can claim ITC on motor car expenses(incl. car insurance premium) only if you are engage in 1. Further supply of motor car 2. Providing Training as to Driving of car

1 Like

Anant Jain (article clerk) (29 Points)
Replied 21 March 2023

If u are not a trader/ dealer of motor car or u are not in the service of motor driving classes, then u cannot claim input on motor cars. further since input on motor car used for business , other than the two mentioned above , is not available therefore input repairs , insurance service etc related to that motor car also not available to be utilised.

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sabyasachi mukherjee (27719 Points)
Replied 22 March 2023

Provided it's not blocked under sec 17(5).
the car is used for furtherance of business.

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CA. Bhavik P. Chudasama (Practice) (5405 Points)
Replied 22 March 2023

https://www.caclubindia.com/articles/sec-17-blocked-credit-under-gst-46741.asp

refer to this article

Gordon Henderson (4 Points)
Replied 24 March 2023

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