Asset insurance claim liable to pay GST?
This query is : Open
08 November 2023
Our asset got damaged and become unusable, hence we sold the same as is where is basis.
asset book value = 50
sold after damaged = 8
balance book value of asset =42
Insurance claim = 100
diff = 58 excess, on this Rs. 58, payable any GST on this insurance claim? or show only gain income in p&l
asset book value = 50
sold after damaged = 8
balance book value of asset =42
Insurance claim = 100
diff = 58 excess, on this Rs. 58, payable any GST on this insurance claim? or show only gain income in p&l
13 November 2023
Why GST payable in the claim...?!
No need. You can it's as claim
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