No Claim Bonus treated as allowable discount, reducing taxable insurance premium; entity-level e invoicing exemption affirmed. No Claim Bonus (NCB) is not consideration from the insured and, if pre-disclosed in policy documents and stated on the invoice, qualifies as an allowable discount under section 15(3)(a) of the HGST Act; GST is leviable on premium after deducting NCB. The e-invoicing exemption under Notification No. 17/GST-2 applies to the entity as a whole and not only to particular supplies made by that entity.
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No Claim Bonus treated as allowable discount, reducing taxable insurance premium; entity-level e invoicing exemption affirmed.
No Claim Bonus (NCB) is not consideration from the insured and, if pre-disclosed in policy documents and stated on the invoice, qualifies as an allowable discount under section 15(3)(a) of the HGST Act; GST is leviable on premium after deducting NCB. The e-invoicing exemption under Notification No. 17/GST-2 applies to the entity as a whole and not only to particular supplies made by that entity.
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