GST on Insurance claim received

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..... GST on Insurance claim received
Query (Issue) Started By: - Sharmila P Dated:- 3-12-2018 Last Reply Date:- 4-12-2018 Goods and Services Tax - GST
Got 2 Replies
GST
I am a registered perso .....

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..... n under GST. My goods were lost by fire. With regard to this, I received an insurance claim from the insurer. Should i charge GST on the claim received by me from the insurer? what are input tax credi .....

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..... t implications if i have availed ITC on the premium paid? Reply By CASusheel Gupta: The Reply: 1) You need to reverse the ITC taken on goods destroyed. 2) No need to charge GST on claim received .....

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..... 3) ITC on premium paid can be availed. Reply By DR.MARIAPPAN GOVINDARAJAN: The Reply: I endorse the views of Sri Susherl.
Discussion Forum - Knowledge Sharing .....

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