Insurance services exemption: Motor Vehicle Accident Fund contributions treated as exempt under SGST amendments, and insurer definition inserted. The notification amends a GST schedule by substituting 'transmission and distribution' with 'transmission or distribution', inserting entry 36B to exempt insurance services provided by the Motor Vehicle Accident Fund funded by insurers' contributions from third party motor insurance premiums (nil tax), adding training partners approved by the National Skill Development Corporation to an entry, omitting item (w) with a future effective date, and inserting a definition that 'insurer' has the meaning in the Insurance Act; the amendment is deemed effective from the stated earlier date.
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Insurance services exemption: Motor Vehicle Accident Fund contributions treated as exempt under SGST amendments, and insurer definition inserted.
The notification amends a GST schedule by substituting "transmission and distribution" with "transmission or distribution", inserting entry 36B to exempt insurance services provided by the Motor Vehicle Accident Fund funded by insurers' contributions from third party motor insurance premiums (nil tax), adding training partners approved by the National Skill Development Corporation to an entry, omitting item (w) with a future effective date, and inserting a definition that "insurer" has the meaning in the Insurance Act; the amendment is deemed effective from the stated earlier date.
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