Input credit

183 views 6 replies
User Avatar

Kkk
1204 Points Joined February 2017
if proprietor taken lic policy on his own name then he can take input credit of it in the proprietorship firm.
0 Reply Share Follow
On 12 March 2021 at 19:26 Report
Replies (6)
User Avatar

3924 Points Joined December 2017
Helth Insurance is under block credit as per section 17(5) of the CGST act 2017 , you can not take input tax credit in any case .
Reply
On 12 March 2021 at 20:05
User Avatar

Kkk
1204 Points Joined February 2017
Its not health but life insurance
Reply
On 12 March 2021 at 20:19
User Avatar

GST Practitioner & Accounts
15049 Points Joined March 2014

Both  Life Insurance and  Health Insurance  are under  Block Credit  a per section 17(5) (b) (i)  of the CGST act 2017 . No ITC . 

Reply
On 12 March 2021 at 20:36
User Avatar

Kkk
1204 Points Joined February 2017
N on stock insurance
Reply
On 12 March 2021 at 22:07
User Avatar

CMA
13117 Points Joined May 2009

You may avail ITC on stock insurance.

Reply
On 13 March 2021 at 18:29
User Avatar

Kkk
1204 Points Joined February 2017
Ok thank u
Reply
On 13 March 2021 at 18:38


CCI Pro

Leave a Reply

Post Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Recent Threads

More recent discussions | Post

Related Threads
Loading