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
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Vat on insurance claim received on theft of car
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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
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