https://www.taxtmi.com/circulars?id=66114 No Claim Bonus (NCB) is not consideration furnished by the insured and does not amount to a supply by the insured to the insurer; when NCB is pre disclosed in policy documents and specifically recorded in the invoice, it qualifies as a discount excluded from the value of supply under the discount deduction provision, and GST is chargeable on the premium after the invoice stated NCB deduction. The exemption from mandatory e invoicing under the notification applies to the entity as a whole and covers all supplies made by that entity. en-us Tue, 27 Dec 2022 00:00:00 +0530 Wed, 28 Dec 2022 12:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=66114 No Claim Bonus (NCB) is not consideration furnished by the insured and does not amount to a supply by the insured to the insurer; when NCB is pre disclosed in policy documents and specifically recorded in the invoice, it qualifies as a discount excluded from the value of supply under the discount deduction provision, and GST is chargeable on the premium after the invoice stated NCB deduction. The exemption from mandatory e invoicing under the notification applies to the entity as a whole and covers all supplies made by that entity. Circulars GST Tue, 27 Dec 2022 00:00:00 +0530 https://www.taxtmi.com/circulars?id=66114