GST rate amendment: Motor Vehicle Accident Fund insurance services exempted; insurer definition added and 'transmission or distribution' wording clarified. The State GST rate notification is amended to substitute 'transmission or distribution' for 'transmission and distribution' at serial 25A; to insert serial 36B exempting services of insurance provided by the Motor Vehicle Accident Fund (funded by insurer contributions from third party motor insurance premiums) at Nil rate; to add as exempt recipients training partners approved by the National Skill Development Corporation at serial 69; to omit item (w) effective from April 1, 2025; and to insert a definition of 'insurer' by reference to the Insurance Act.
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GST rate amendment: Motor Vehicle Accident Fund insurance services exempted; insurer definition added and 'transmission or distribution' wording clarified.
The State GST rate notification is amended to substitute "transmission or distribution" for "transmission and distribution" at serial 25A; to insert serial 36B exempting services of insurance provided by the Motor Vehicle Accident Fund (funded by insurer contributions from third party motor insurance premiums) at Nil rate; to add as exempt recipients training partners approved by the National Skill Development Corporation at serial 69; to omit item (w) effective from April 1, 2025; and to insert a definition of "insurer" by reference to the Insurance Act.
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