Dear All,
If partnership paid the premium of Insurance of partner,
whether they can claim the Gst credit in it?
OR If individual Pay the GST on insurance can he claim so through Proprietor business?
4 Replies
CA. Sourav Sarkar
(Chartered Accountant )
(24583 Points)
Replied 12 June 2021
No ITC might not be claimed
prasad Nilugal
(3914 Points)
Replied 12 June 2021
Helth Insurance and Life Insurance are under block credit under section 17(5) of the CGST act 2017 .
CA Mayank A Jain
(Chartered Accountant in Practice)
(1260 Points)
Replied 12 June 2021
ITC could be availed only if it is related to business such as stock or building insurance. Health, Life insurance cannot be availed.
Recent Topics
- Eway Bill query for inter state
- Taxability of income in USA of resident oci holder
- Clarity regarding Sec 16(4)
- GST ON HOTEL ROOMS details
- Relief for Delayed Filing of Tax Forms
- Expire stock
- INCOME TAX AY 25-26
- Experienced CA firm for accounting & auditing
- Regarding Perquisite Tax on ESOP - Unlisted Compan
- Casual Taxable Person under GST
Related Threads
CAclubindia
