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Can we take the credit of gst paid on loan processing charges, insurance related to loan? Note - Such loan is related to Business

Can we take the credit of gst paid on loan processing charges, insurance related to loan? Note - Such loan is related to Business

Reply—Yes, as ITC of GST paid on loan processing charges is not restricted under section 17(5) of CGST Act, it can be claimed in terms of section 16 of CGST Act.

Posted Date: Mar 12, 2021

Can we take the credit of gst paid on loan processing charges, insurance related to loan? Note - Such loan is related to Business

Can we take the credit of gst paid on loan processing charges, insurance related to loan? Note - Such loan is related to Business

Reply—Yes, as ITC of GST paid on loan processing charges is not restricted under section 17(5) of CGST Act, it can be claimed in terms of section 16 of CGST Act.

Posted Date: Mar 12, 2021

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