Commercial property; claim GST paid on property insurance

Newboyo (CFA//MBA//Corporate banker for 30+ years )   (28 Points)

02 April 2025  

Hello,

i own commercial property rented out to a corporate tenant, on which GST is received (from the tenant) and paid to the Govt. This property is located in NOIDA, NCR and (if relevant) FYI - I am an OCI holder filing taxes in India. 

I've just purchased a property insurance policy via HDFC bank, on which GST is paid by me  this insurance is on  the property where GST is collected / passed through to the Govt  

Can I set off  the GST paid on the insurance policy against GST received by the tenant ?

Thanks