Question ID :
38015
ITC for Insurance company
Can insurance company claim ITC on payments made to third party while settling claims like garage service payments etc. What will be base for claiming such ITC for Insurance company.
Posted by
Sachin
on
Mar 01, 2019
Filed Under
GST
Yes, ITC will be allowed on services of motor garage used by an insurance company for claim settlement. There is nothing in the ACT, which prohibit an Insurance company from claiming ITC not even in section 17(5)
Posted by
CA. BISHT RAKESH on
Mar 04, 2019
Answer ID :
76349
Yes the Insurance Company can claim the input subject that the vehicle is being used for its business purposes.
Posted by
CA. JHA SHANKAR KUMAR on
Mar 07, 2019