CBIC exempt GST for Motor Vehicle Accident Fund Insurance and NSDC Training Partners:

CBIC exempt GST for Motor Vehicle Accident Fund Insurance and NSDC Training Partners The Central Board of Indirect Taxes and Customs (CBIC) has notified exemption of GST for Motor Vehicle Accident Fund Insurance and NSDC Training Partners via issuing a Notification. The Motor Vehicle Accident Fund (MVAF) is a fund that provides compensation to victims of road accidents, including hit-and-run accidents. The fund is administered by the General Insurance Council. The Notification Read as Follows: In exercise of the powers conferred by sub-sections (3) and (4) of section 9, sub-section (1) of section 11, sub-section (5) of section 15 and section 148 of the Central Goods and Services Tax Act, 2017 (12 of 2017), the Central Government, on being satisfied that it is necessary in the public interest so to do, on the recommendations of the Council, hereby makes the following amendment further to amend the notification number 12/2017-Central Tax (Rate),of the Government of India, in the Ministry of Finance (Department of Revenue), published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 691(E), dated the 28th June, 2017, namely:- (i) In the said notification in the table, - (A) against serial number 25A, in column (3), for the words “transmission and distribution” wherever occurring, the words “transmission or distribution” shall be substituted; (B) after serial number 36A and the entries relating thereto, the following serial numbers and entries shall be inserted, namely:- IMAGE (C) against serial number 69, in the entry in column (3), after item(e), the following item shall be inserted, namely :-

“(f) a training partner approved by the National Skill Development Corporation,”

(ii) in paragraph 2 of the said notification,- (A) item(w) shall be omitted with effect from the 1st day of April, 2025; (B) after item(zj), the following item shall be inserted, namely: -

“(zja) “insurer” has the same meaning as assigned to it in sub-section (9) of section 2 of the Insurance Act, 1938(4 of 1938).”

For Official Notification Download PDF Given Below: