Hi Friends
I need your suggestion on Vat payable.
We have received an Insurance Claim against theft of a Car. Pls confirm whether Sales Tax Officer can impose VAT/Sales Tax assuming that Car was sold.
Thanks & Regards
Menu
Vat on insurance claim received on theft of car
Replies (1)
According to me VAT canot be levied on receipt of insurance claim for theft of car because vat is levied on sale of goods theft of goods canot be equated to sales. hence according to me no vat on insurance claim for theft of car
Recent Threads
- 17(5) Blocked ITC
- Transfer of equity shares to original owner
- Login credentials and payment acknowledgement not
- Export sales not realised payment not received fro
- Capital gain account amount utilisation
- Form 26QB – Section 194-IA: TDS on Full Cons
- Indexation Benefit available or not on Calculation
- Documents for return exhibition material
- Can I set off equity losses(both short term loss a
- Input tax credit on rent to rent
Related Threads
CAclubindia
