https://www.taxtmi.com/circulars?id=70852 No Claim Bonus deducted from insurance premium is not consideration for a supply by the insured, since the insured is not contractually obliged to refrain from lodging claims. Where the bonus and its conditions are disclosed in the policy and the discount is recorded in the invoice, it is deductible in valuing insurance services and GST applies to the actual premium payable after deduction. E-invoicing exemption for specified entities or sectors applies to the entity as a whole, covering all its supplies of goods and services. en-us Fri, 13 Jan 2023 00:00:00 +0530 Thu, 20 Aug 2026 09:49:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=70852 No Claim Bonus deducted from insurance premium is not consideration for a supply by the insured, since the insured is not contractually obliged to refrain from lodging claims. Where the bonus and its conditions are disclosed in the policy and the discount is recorded in the invoice, it is deductible in valuing insurance services and GST applies to the actual premium payable after deduction. E-invoicing exemption for specified entities or sectors applies to the entity as a whole, covering all its supplies of goods and services. Circulars GST - States Fri, 13 Jan 2023 00:00:00 +0530 https://www.taxtmi.com/circulars?id=70852