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ITC OF GST CHARGED ON INSURANCE PREMIUM OF CAR

09 October 2017

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 ?

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12 Replies

g mahesh Mundra (Business and tax consultant) (3293 Points)
Replied 09 October 2017

no for insurance for repairing you have to get bill with your GST no

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CA Rashmi Gandhi (Chartered Accountant) (86308 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

RAJA P M ("Do the Right Thing...!!!") (127921 Points)
Replied 10 October 2017

Yes...
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 ?

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CA Rashmi Gandhi (Chartered Accountant) (86308 Points)
Replied 10 October 2017

Then you can claim ITC if car is used for business purpose.

RAJA P M ("Do the Right Thing...!!!") (127921 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...!!!") (127921 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....