GST exemption for Motor Vehicle Accident Fund insurance services clarified; insurer definition and training partner inclusion updated. The notification amends the state GST rate schedule by substituting 'transmission or distribution' for 'transmission and distribution' at serial 25A; inserting serial 36B to exempt services of insurance provided by the Motor Vehicle Accident Fund funded by insurers' contributions for third-party motor insurance with nil state tax; adding as item (f) at serial 69 a training partner approved by the National Skill Development Corporation; omitting item (w) from paragraph 2 and inserting a definition that 'insurer' has the meaning in subsection (9) of section 2 of the Insurance Act, 1938.
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GST exemption for Motor Vehicle Accident Fund insurance services clarified; insurer definition and training partner inclusion updated.
The notification amends the state GST rate schedule by substituting "transmission or distribution" for "transmission and distribution" at serial 25A; inserting serial 36B to exempt services of insurance provided by the Motor Vehicle Accident Fund funded by insurers' contributions for third-party motor insurance with nil state tax; adding as item (f) at serial 69 a training partner approved by the National Skill Development Corporation; omitting item (w) from paragraph 2 and inserting a definition that "insurer" has the meaning in subsection (9) of section 2 of the Insurance Act, 1938.
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