Clarification on various issue pertaining to GST

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....9;s Ref. CIRCULAR Computer No.1946824, File No. REV03-12039/213/2022 DY.COMM 06/01/2023 Subject: Clarification on various issue pertaining to GST - reg. Ref: Circular No.186/18/2022-GST, dated 27.12.2022 issued by the Government of India, Ministry of Finance, Department of Revenue, Central Board of Indirect Taxes and Customs. **** Representations have been received from the field forma....

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....be considered as consideration for the supply provided by the insured to the insurance company, for agreeing to the obligation to refrain from the act of lodging insurance claim during the previous year(s)? As per practice prevailing in the insurance sector, the insurance companies deduct No Claim Bonus from the gross insurance premium amount, when no claim is made by the insured person during ....

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....ion of value of supply of insurance service provided by the insurance company to the insured? As per clause (a) of sub-section (3) of section 15 of the APGST Act, value of supply shall not include any discount which is given before or at the time of supply if such discount has been duly recorded in the invoice issued in respect of such supply. The insurance companies make the disclosure of t....

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....ured. Accordingly, where the deduction on account of No claim bonus is provided in the invoice issued by the insurer to the insured, GST shall be leviable on actual insurance premium amount, payable by the policy holders to the insurer, after deduction of No Claim Bonus mentioned on the invoice. Clarification on applicability of e-invoicing w.r.t an entity 3. Whether the exemption from ma....