Amount recovered for missing machine
Sivakumar D (Exceutive Accountant) (85 Points)
06 May 2019
Amount recovered from security agencies for machine stolen by someone. will it attract GST?
Sivakumar D (Exceutive Accountant) (85 Points)
06 May 2019
Sharmila Paruchuru
(CA)
(39 Points)
Replied 06 May 2019
it is considered as an amount received for forbearance of an act so it amounts to supply. Hence GST needs to be charged on the amount received
Analysis of 20 GST Notices (including 2 Appeals) and Practise on Drafting(with recording)
GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)
CAclubindia
