Insurance ITC claim related
kumar rajat (285 Points)
06 June 2022Thanks Experts
kumar rajat (285 Points)
06 June 2022
Aanchal Aggarwal
(76 Points)
Replied 06 June 2022
CA Puja Sharma
(Chartered Accountant)
(4969 Points)
Replied 06 June 2022
Yes ITC will be allowed of the GST component paid in teh premium for insurance of JCB, SOil compactor etc.
ITC is not allowed inon services of general insurance, servicing, repair and maintenance in so far as they relate to motor vehicles(for transportation of passengers) vessels or aircraft.
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