GST Clarification: No Claim Bonus as Discount, E-Invoicing Exemptions Apply Entity-Wide per Notification No. 13/2020.

The circular addresses clarifications on GST-related issues. Firstly, it confirms that a No Claim Bonus (NCB) offered by insurance companies is not a consideration for any supply from the insured and can be treated as an admissible discount for calculating the value of insurance services. GST is applicable on the premium amount after the NCB deduction. Secondly, it clarifies that exemptions from mandatory e-invoicing apply to the entire entity, not just specific supplies, as per Notification No. 13/2020-Central Tax. Entities exempted from e-invoicing are not required to issue e-invoices for any of their supplies.

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