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of <h1>Tamil Nadu Clarifies GST: No Claim Bonus as Discount, E-Invoicing Exemptions Apply to Entire Entity per Section 15.</h1> The Tamil Nadu Commercial Taxes Department issued Circular No. 4/2023-TNGST to clarify GST issues. It states that No Claim Bonus (NCB) from insurance premiums is not a consideration for supply by the insured, and NCB is a permissible discount under section 15 of the TNGST Act, affecting the value of supply for GST calculation. Additionally, the circular clarifies that exemptions from mandatory e-invoicing apply to the entire entity, not specific supplies. For example, a banking company exempt from e-invoicing does not need to issue e-invoices for any of its supplies, including goods like bullion.
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