Insurance Firms Can Claim Input Tax Credit on Motor Vehicle Repair Costs in Reimbursement Settlements.
Circulars
GST
The circular addresses the entitlement of Input Tax Credit (ITC) by insurance companies on repair expenses for motor vehicles in reimbursement mode of claim settlement. It clarifies that ITC is available to insurance companies for repair expenses reimbursed to insured, even if the garage issues invoices in the insured's name. ITC is permissible as the insurance company is
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