Input credit allowable on insurance expenses paid for insurance policy to cover expenses relating to pay-roll

Term “Input services” clearly include services relating to setting up, modernization, renovation or repairs of a factory. It inter-alia includes services received in connection with security. Insuring plant and machinery to safeguard against interruption/destruction/break-down and to cover loss of profit due to stoppage of work due to perils like fire, riot, terrorist attack, damages etc. is necessarily a precautionary measure to safeguard against any unwarranted situation of the business. The security of a company does not merely depend upon the physical se

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