TMI BlogClarification on various issue pertaining to GST-X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 formations, the Government, in exercise of its powers conferre ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... No Claim Bonus from the gross insurance premium 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e 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 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 predisclosure of NC ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n of No Claim Bonus mentioned on the invoice. Clarification on applicability of e-invoicing w.r.t an entity 3. Whether the exemption from mandatory generation of einvoices in terms of Notification No. 13/2020-State Tax, dated 21st March, 2020, as amended, is available for the entity as whole, or whether the same is available only in re ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... plies of goods and services and thus, will not be required to issue e-invoice with respect to any supply made by it. [F. No. GOS/2009-2010/16-1C (9) VOL-II] Manoj Rai Commissioner Commercial Taxes Division Finance Department - Circular - Trade Notice - Public Notice - Instructions - Office orders Tax Management India - taxmanagementindia - taxmanagement ..... X X X X Extracts X X X X X X X X Extracts X X X X
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