9911796707
TMI BlogClarification on various issue pertaining to GSTX X X X Extracts X X X X X X X X Extracts X X X X ..... t 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 Commissioner, in exercise of its powers conferred by section 168(1) of the Manipur Goods and Services Tax Act, 2017 (hereinafter refe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... imself 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 there is no supply provided by the insured to the insurance company in form of agreeing to the obligation to refrain from the act of lodging insurance claim durin ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 Bonus in the invoice is in consonance with the conditions laid down for deduction of discount from the value of supply under clause (a) of sub-section (3) of sectio ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 020, 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. 05/2020-State Tax, dated 23rd March, 2020, as amended, certain entities/sectors have been exempted from mandatory generation of e-invoices as per sub-rule (4) of rule 48 of the Manipur Goods and Services Tax Rules, 2017. ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
