Dear Sir, whether ITC is allowed of color purchased for office painting whether ITC allowed of insurance of office? whether ITC allowed for insurance of machinery while importing machinery kindly guide

Reply—1. ITC will not be available to the extent of capitalization of building materials. If expenditure of paint is not being capitalised, ITC can be claimed.

2. As it is not blocked u/s 17(5), ITC on insurance of office can be claimed if used for furtherance of business.

3. ITC on insurance of machinery can also be claimed as it is not blocked u/s 17(5) of CGST Act.