GST exemption for Motor Vehicle Accident Fund insurance clarified; transmission or distribution wording and insurer definition amended. The notification amends the GST schedule by substituting 'transmission or distribution' for 'transmission and distribution,' inserting a nil rated entry exempting insurance services provided by the Motor Vehicle Accident Fund funded by insurers' contributions from third party motor premiums, adding a training partner approved by the National Skill Development Corporation to listed services, omitting a listed item effective from the first day of April next year, and defining 'insurer' consistent with the Insurance Act.
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Provisions expressly mentioned in the judgment/order text.
GST exemption for Motor Vehicle Accident Fund insurance clarified; transmission or distribution wording and insurer definition amended.
The notification amends the GST schedule by substituting "transmission or distribution" for "transmission and distribution," inserting a nil rated entry exempting insurance services provided by the Motor Vehicle Accident Fund funded by insurers' contributions from third party motor premiums, adding a training partner approved by the National Skill Development Corporation to listed services, omitting a listed item effective from the first day of April next year, and defining "insurer" consistent with the Insurance Act.
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