Input tax credit on insurance

SUMIT BADYAL (709 Points)

12 August 2020

hi, can we take an input tax credit on insurance premium paid for taking policy cover the transportation risk of goods?

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3 Replies

Sagar Patel (Tax and Business Consultant) (11611 Points)
Replied 12 August 2020

Yes, you can take full credit of insurance premium paid, if transported Goods is taxable Goods.

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annu Goyal (1102 Points)
Replied 12 August 2020

Yes, you can take ITC

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paleti diwakar (44 Points)
Replied 15 August 2020

Gst on life insurance is not available but gst on insurance relating to good s you can take

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