TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Circulars
of of All Circulars
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Delhi Trade & Taxes: NCB Not Taxable, Reduces Insurance Value; E-invoicing Exemptions for Entire Entities, Not Specific Supplies.</h1> The circular from the Delhi Department of Trade & Taxes clarifies issues related to GST. It states that a no claim bonus (NCB) offered by insurance companies is not a consideration for any supply by the insured, and thus, not taxable. However, NCB is a permissible discount under section 15 of the DGST Act, reducing the taxable value of insurance services. Regarding e-invoicing, exemptions under Notification No. 13/2020 apply to entire entities, not specific supplies. Entities like banks are exempt from e-invoicing for all supplies, regardless of their nature. Difficulties in implementing this circular should be reported to the Commissioner.
TaxTMI 
TaxTMI 
