https://www.taxtmi.com/circulars?id=69963 GST liability on salvage or wreck value in motor vehicle insurance claims depends on the insurance contract. If the claim is settled by deducting salvage as a pre-agreed deductible, the salvage remains the property of the insured and the insurer is not liable to discharge GST on that value. If the claim is settled on the full insured declared value without deduction, the salvage becomes the insurer's property and outward GST is payable on its disposal or sale. en-us Mon, 08 Jul 2024 00:00:00 +0530 Wed, 27 May 2026 18:29:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=69963 GST liability on salvage or wreck value in motor vehicle insurance claims depends on the insurance contract. If the claim is settled by deducting salvage as a pre-agreed deductible, the salvage remains the property of the insured and the insurer is not liable to discharge GST on that value. If the claim is settled on the full insured declared value without deduction, the salvage becomes the insurer's property and outward GST is payable on its disposal or sale. Circulars GST - States Mon, 08 Jul 2024 00:00:00 +0530 https://www.taxtmi.com/circulars?id=69963