https://www.taxtmi.com/circulars?id=70187 No Claim Bonus is not consideration for any supply by the insured, as there is no contractual obligation to refrain from lodging claims in exchange for it. It is, however, a permissible discount when pre-disclosed and recorded in the policy and invoice, so GST applies on the insurance premium after deduction of the No Claim Bonus. The e-invoicing exemption applies to the entity as a whole and is not confined to particular supplies made by that entity. en-us Thu, 29 Dec 2022 00:00:00 +0530 Thu, 18 Jun 2026 12:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=70187 No Claim Bonus is not consideration for any supply by the insured, as there is no contractual obligation to refrain from lodging claims in exchange for it. It is, however, a permissible discount when pre-disclosed and recorded in the policy and invoice, so GST applies on the insurance premium after deduction of the No Claim Bonus. The e-invoicing exemption applies to the entity as a whole and is not confined to particular supplies made by that entity. Circulars GST - States Thu, 29 Dec 2022 00:00:00 +0530 https://www.taxtmi.com/circulars?id=70187