whether Vat is payable on Insurance Claim received for stock damaged and burnt in fire

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..... VAT is payable only in respect of consideration received on transfer of property in goods viz. 'sale' as defined under the VAT Act. Settlement of insurance claim by the insurance company canno .....

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..... t said to be transfer of ownership and thus no VAT is payable. However any input tax credit availed in respect of the stock damaged should be reversed. CAN I HAVE THE RELEVANT SECTION OR CASE LAWS FO .....

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..... R THE SAME. - Reply By DR.MARIAPPAN GOVINDARAJAN - The Reply = Insurance compensation is not liable to VAT since it is not for consideration. - whether Vat is payable on Insurance Claim received .....

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..... for stock damaged and burnt in fire - Query Started By: - Esha Bal Dated:- 11-2-2019 Value Added Tax - VAT-CST - Got 1 Reply - VAT and Sales Tax - Discussion Forum - Knowledge Sharing, reply post b .....

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..... y an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax .....

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