GST input credit on Lic

santosh saha (B.Com) (190 Points)

07 May 2019

can we take input for paid on Lic.

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7 Replies

RAJA P M ("Do the Right Thing...!!!") (128091 Points)
Replied 07 May 2019

No...

santosh saha (B.Com) (190 Points)
Replied 07 May 2019

So the value which was paid with the premium, what will be treated.

RAJA P M ("Do the Right Thing...!!!") (128091 Points)
Replied 07 May 2019

Are you asking about...?!

santosh saha (B.Com) (190 Points)
Replied 07 May 2019

the tax amount which was paid with Lic ,is that also a Lic premium value....

RAJA P M ("Do the Right Thing...!!!") (128091 Points)
Replied 07 May 2019

Yes... If You are asking about Income Tax deduction...

pritesh (CA Final student) (7101 Points)
Replied 07 May 2019

You cannot take ITC as per sec17(5)

Kunal Mittal (FINANCE OFFICER) (580 Points)
Replied 15 May 2019

You can take deduction in income tax but it's blocked in gst

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