https://www.taxtmi.com/circulars?id=69523 GST liability on salvage or wreck value in motor vehicle insurance claim settlements depends on the insurance contract. If salvage value is deducted from the claim as a pre-agreed deductible and ownership remains with the insured, the insurer is not liable to pay GST on that salvage value. If the claim is settled for the full insured declared value without deduction and the salvage passes to the insurer, GST is payable on the outward supply arising from disposal or sale of the salvage. en-us Wed, 03 Jul 2024 00:00:00 +0530 Tue, 14 Apr 2026 14:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=69523 GST liability on salvage or wreck value in motor vehicle insurance claim settlements depends on the insurance contract. If salvage value is deducted from the claim as a pre-agreed deductible and ownership remains with the insured, the insurer is not liable to pay GST on that salvage value. If the claim is settled for the full insured declared value without deduction and the salvage passes to the insurer, GST is payable on the outward supply arising from disposal or sale of the salvage. Circulars GST - States Wed, 03 Jul 2024 00:00:00 +0530 https://www.taxtmi.com/circulars?id=69523