https://www.taxtmi.com/forum/issue?id=116963 Compensation received from an insurer for vehicle damage is not automatically taxable GST consideration and is often characterised as an actionable claim outside taxable supply, but each receipt must be tested against the Supply and Consideration concepts to determine taxability. The sale of the damaged vehicle as scrap constitutes a supply of goods and is subject to GST regardless of any loss for income-tax purposes. en-us Thu, 14 Jan 2021 13:17:09 +0530 Thu, 23 Jan 2025 15:54:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=116963 Compensation received from an insurer for vehicle damage is not automatically taxable GST consideration and is often characterised as an actionable claim outside taxable supply, but each receipt must be tested against the Supply and Consideration concepts to determine taxability. The sale of the damaged vehicle as scrap constitutes a supply of goods and is subject to GST regardless of any loss for income-tax purposes. Discussion-Forum GST Thu, 14 Jan 2021 13:17:09 +0530 https://www.taxtmi.com/forum/issue?id=116963