Goods and Services Tax – Started By: – Sharmila P – Dated:- 3-12-2018 Last Replied Date:- 4-12-2018 – I am a registered person under GST. My goods were lost by fire. With regard to this, I received an insurance claim from the insurer. Should i charge GST on the claim received by me from the insurer? what are input tax credit implications if i have availed ITC on the premium paid? – Reply By CASusheel Gupta – The Reply = 1) You need to reverse the ITC taken on goods destroyed. 2) No need to char
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