VAT liabaility of insurance companies

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....AT liabaility of insurance companies<br> Query (Issue) Started By: - Sanchit Valecha Dated:- 29-2-2012 Last Reply Date:- 1-3-2012 VAT + CST<br>Got 2 Replies<br>VAT / Sales Tax<br>Is there any VAT lia....

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....bility 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 those goods? Reply By ....

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....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 seller will normally be liable....

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.... 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 scrap.<br> Discussion Forum -....

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