I am sole proprietor of my business firm.
I have car which is shown in balance sheet of firm (Purchased in my personal name) & is used for running business.
Can I claim ITC of GST charged on insurance premium ?
Can I claim ITC of GST charged by workshop on repairing bill ?
12 Replies
g mahesh Mundra
(Business and tax consultant)
(3296 Points)
Replied 09 October 2017
no for insurance for repairing you have to get bill with your GST no
CA Rashmi Gandhi
(Chartered Accountant)
(86323 Points)
Replied 09 October 2017
You cant claim as car is in your personal name.
MANOJ KEDIA
(48 Points)
Replied 10 October 2017
in bill GST no is printed.
I am sole proprietor of firm
I am sole proprietor of firm
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 10 October 2017
Yes...
You can get the repair and maintenance charges for your car as using your business purpose....
You can get the repair and maintenance charges for your car as using your business purpose....
MANOJ KEDIA
(48 Points)
Replied 10 October 2017
Raja sir,
can I claim ITC of GST on insurance premium ?
can I claim ITC of GST on insurance premium ?
CA Rashmi Gandhi
(Chartered Accountant)
(86323 Points)
Replied 10 October 2017
Then you can claim ITC if car is used for business purpose.
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 10 October 2017
| Originally posted by : MANOJ KEDIA | ||
 |
Raja sir,can I claim ITC of GST on insurance premium ? |  |
Ohhhhhhhh Yessssssssssss......
Taniya Gupta
(2 Points)
Replied 22 February 2018
Sir/Mam,
Please help me to know whether i can claim Input credit on insurance premium paid with GST, in which GSTN is not provided by both the parties (insurer and insured).
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 22 February 2018
| Originally posted by : Taniya Gupta | ||
|
Sir/Mam, Please help me to know whether i can claim Input credit on insurance premium paid with GST, in which GSTN is not provided by both the parties (insurer and insured). |
|
No...
GSTIN is must in the Invoice....
Akash Gupta
(135 Points)
Replied 09 April 2018
sir my gst no. is printed on car Insurance invoice, can i get itc
as car is my assest in books
as car is my assest in books
CA Rashmi Gandhi
(Chartered Accountant)
(86323 Points)
Replied 09 April 2018
Yes but GST amt not capitalised I.e car shown at taxable value in books.
Benila Bensan
(Accounting Staff)
(50 Points)
Replied 30 July 2018
can i claim ITC for vehicle insurance paid for bike used for personal purpose??
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