GST notification amendment: Motor Vehicle Accident Fund insurance services exempt from tax, wording and definition changes enacted. The notification amends the Puducherry GST rate table by replacing 'transmission and distribution' with 'transmission or distribution,' inserting a nil-rated entry for services of insurance provided by the Motor Vehicle Accident Fund funded by insurers from third party motor insurance premiums, and adding a training partner approved by the National Skill Development Corporation as a listed item. It omits item (w) in paragraph 2 and inserts a definition of 'insurer' drawn from the Insurance Act; the notification is made effective retrospectively from mid-January.
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GST notification amendment: Motor Vehicle Accident Fund insurance services exempt from tax, wording and definition changes enacted.
The notification amends the Puducherry GST rate table by replacing "transmission and distribution" with "transmission or distribution," inserting a nil-rated entry for services of insurance provided by the Motor Vehicle Accident Fund funded by insurers from third party motor insurance premiums, and adding a training partner approved by the National Skill Development Corporation as a listed item. It omits item (w) in paragraph 2 and inserts a definition of "insurer" drawn from the Insurance Act; the notification is made effective retrospectively from mid-January.
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