Clarification on various issue pertaining to GST.

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....ing to GST. Representations have been received from the field formations seeking clarification on certain issues with respect to - i. taxability of No Claim Bonus offered by Insurance companies; ii. applicability of e-invoicing w.r.t an entity. 2. In order to clarify the issue and to ensure uniformity in the implementation of the provisions of law across the field formation....

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....mium amount, when no claim is made by the insured person during the previous insurance period(s). The customer/ insured procures insurance policy to indemnify himself from any loss/ injury as per the terms of the policy, and is not under any contractual obligation not to claim insurance claim during any period covered under the policy, in lieu of No Claim Bonus. It is, therefore, clarified that....

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....uch supply. The insurance companies make the disclosure of the fact of availability of discount in form of No Claim Bonus, subject to certain conditions, to the insured in the insurance policy document itself and also provide the details of the no claim Bonus in the invoices also. The pre-disclosure of NCB amount in the policy documents and specific mention of the discount in form of No Claim B....

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....g w.r.t an entity 3. Whether the exemption from mandatory generation of e-invoices in terms of Notification No. F.12(46)FD/Tax/2017-Pt.V-152, dated 30th March, 2020, as amended, is available for the entity as whole, or whether the same is available only in respect of certain supplies made by the said entity? In terms of Notification No. F.12(46)FD/Tax/2017-Pt.V-152, dated 30th March, 2020....