https://www.taxtmi.com/circulars?id=66755 NCB is not consideration from the insured to the insurer; where NCB is pre disclosed and recorded in the invoice it is an allowable deduction under clause (a) of sub section (3) of section 15 for valuation of insurance services, and GST is leviable on the premium after deduction of NCB. The e invoicing exemption in Notification No. 05/2020 State Tax applies to the exempted entity as a whole and thus covers all supplies made by that entity. en-us Wed, 28 Dec 2022 00:00:00 +0530 Mon, 21 Aug 2023 18:26:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=66755 NCB is not consideration from the insured to the insurer; where NCB is pre disclosed and recorded in the invoice it is an allowable deduction under clause (a) of sub section (3) of section 15 for valuation of insurance services, and GST is leviable on the premium after deduction of NCB. The e invoicing exemption in Notification No. 05/2020 State Tax applies to the exempted entity as a whole and thus covers all supplies made by that entity. Circulars GST - States Wed, 28 Dec 2022 00:00:00 +0530 https://www.taxtmi.com/circulars?id=66755