Home Forum Goods and Services Tax - GST Month 1 2021 2021 (1) This
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GST on insurance claim received - Goods and Services Tax - GSTExtract Sir, motor vehilce car is damaged during accident. Now, insurance company gave ₹ 3 lakhs as compensation. Whether assesse is required to pay any GST on insurance claim received ? Further, beside insurance claim, car is old for ₹ 50,000 as scrap to buyer. There is loss on sale of car ₹ 2 lakhs as per Income tax Act . Whether assesee required to pay GST on car sale ?
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