ITC was allowed on Insurance for Stock and Premises as sec.17(5) was limited to Motor Vehicles

Arraycom (India) Limited Vs State of Gujarat & Ors. (Gujarat High Court)

Conclusion: Input Tax Credit (ITC) availed on insurance premiums for stock, plant & machinery, and business premises (under a Standard Fire and Special Perils Policy) could not be denied by treating it as “motor vehicle insurance” under the blocked credit provisions of Section 17(5)(b).

Held: Assessee-company was a GST-registered entity engaged in manufacturing and system integration activities, claimed ITC on insurance premiums paid for stock-in-trade facto

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