Hi Friends,
In one of our showroom due to flood we incurred loss of goods. Later received insurance claim. What will be GST impact?
On loss of goods do we need to reverse GST? Or on receipt of Insurance we need to do something?
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Loss of Goods in Flood and insurance claim
Replies (2)
You should reverse the ITC
No gst in insurance claim received.
I have made planning in 10 cases. shown scrap sales and not reversed ITC. can guide anybody.
I have made planning in 10 cases. shown scrap sales and not reversed ITC. can guide anybody.
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