Ad-Free CAclubindia and Daily Updates on your mobile. Subscribe Now!

ITC on Car Insurance

Dhaval Ramesh Gala (Article) (177 Points)

17 April 2019

Can we take credit of car insurance ?

Reply
Follow
Share

5 Replies

Siva Raj (358 Points)
Replied 17 April 2019

you cannot take, but the car purchased for providing services to woman employees (mandatory by law) u can take, Eg. night shift dropping facility to woman employees.

Upgrade to CAclubindia Pro. Subscribe Now!

Haresh Patel (36 Points)
Replied 18 April 2019

You take credit for period up to 31.01.2018 as there is no specific restriction u/s 17(5). After implementation of GST amendment act 2018, i.e. w.e.f 01.02.2019, you can not take credit , Sec 17(5)(ab).

Proviso given u/s 17(5)(b) not applicable to Sec 17(5)(ab). It means no credit available even though it is obligatory under any law.

No credit available after 01.02.2019

1 Like

Shloka Madhavan (Teacher) (301 Points)
Replied 18 April 2019

Agree with Mr. Haresh Patel's opinion.

2 Like

Manish G Nair (Articled Assistant) (124 Points)
Replied 18 April 2019

If the car is for business purpose, then you can claim itc

Ankit Varshney (91 Points)
Replied 18 April 2019

Originally posted by : Siva Raj
	you cannot take, but the car purchased for providing services to woman employees (mandatory by law) u can take, Eg. night shift dropping facility to woman employees.