No Claim Bonus treated as invoice discount, GST on premium after deduction; e invoicing exemption covers entire entity. No Claim Bonus (NCB) is not consideration from the insured to the insurer but qualifies as a pre disclosed discount under clause (a) of sub section (3) of section 15 of the DGST Act when recorded in the policy and invoice; GST is therefore leviable on the insurance premium payable after deduction of NCB shown on the invoice. The e invoicing exemption under Notification No. 13/2020 State Tax applies to the exempted entity as a whole and covers all supplies made by that entity.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
No Claim Bonus treated as invoice discount, GST on premium after deduction; e invoicing exemption covers entire entity.
No Claim Bonus (NCB) is not consideration from the insured to the insurer but qualifies as a pre disclosed discount under clause (a) of sub section (3) of section 15 of the DGST Act when recorded in the policy and invoice; GST is therefore leviable on the insurance premium payable after deduction of NCB shown on the invoice. The e invoicing exemption under Notification No. 13/2020 State Tax applies to the exempted entity as a whole and covers all supplies made by that entity.
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