VAT liabaility of insurance companies

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... Is there any VAT liability of insurance companies? (Specifically for Maharashtra VAT) For example, in case insurance company takes custody of damaged goods, does it have to MVAT on scrap value of th .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ose goods? - Reply By DEV KUMAR KOTHARI - The Reply = The insurance company may l be liable becasue it is likely to exceed exemption limit, and when sale of goods is in course of business, the selle .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... r will normally be liable to VAT. However, any exceptions need to be checked in relevant law. - Reply By Pradeep Khatri - The Reply = Under MVAT Act , the liability will surely be arose on sale of .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... scrap. - VAT liabaility of insurance companies - Query Started By: - Sanchit Valecha Dated:- 29-2-2012 Value Added Tax - VAT-CST - Got 2 Replies - VAT and Sales Tax - Discussion Forum - Knowledge .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X