CUTTING INSERT HAVING V-SHAPED CORNER VIEWS AND MILLING TOOL

A cutting insert has eight identical main cutting edges. Four main cutting edges can operate with a positive axial rake and four can operate with a negative axial rake. The cutting insert has two opposing identical end surfaces and a peripheral surface extending between the end surfaces. The cutting insert is square-shaped in end views. Each end surface has four corners, two lowered corners and two raised corners. A diagonal line passes through the lowered corners of each end surface. For a given orientation of the cutting insert the peripheral surface has a V-shape in views along the two diagonal lines associated with each end surface, the two V-shapes being identical in form and oriented in opposite directions.