Ask Jurishour AI

Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
tdb_templates
saswp_reviews
saswp-collections
saswp_rvs_location
tdc-review-email
web-story-font
web-story
googlesitekit_email
tds_locker
tds_email
saswp
mailpoet_page
mailpoet_email
tdcpt_tunes
tdc-review
pronamic_payment
pronamic_gateway
pronamic_pay_subscr
wpcode
HomeGST55th GST Council Meet: GST Exemption On Contributions By General Insurance Companies...

55th GST Council Meet: GST Exemption On Contributions By General Insurance Companies From Third-Party Motor Vehicle Premiums For Motor Vehicle Accident Fund

Published on

🚀 Stay Connected With JurisHour

WhatsApp X Telegram

The 55th GST Council met under the Chairpersonship of Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman in Jaisalmer, Rajasthan, today. The council recommended the GST exemption on contributions by general insurance companies from third-party motor vehicle premiums for motor vehicle accident fund.

The council has recommended to exempt GST on the contributions made by general insurance companies from the third-party motor vehicle premiums collected by them to the Motor Vehicle Accident Fund, constituted under section 164B of the Motor Vehicles Act, 1988. This fund is constituted for providing compensation/ cashless treatment to the victims of road accidents including hit and run cases.

Section 164B of the Motor Vehicles Act, 1988 empowers the Central Government to set up the Motor Vehicles Accident Fund. The fund’s purpose is to provide compulsory insurance to all road users in India. 

Read More: 55th GST Council Meet: GST Exemption On Gene Therapy

Mariya Paliwala
Mariya Paliwalahttps://www.jurishour.in/
Mariya is the Senior Editor at Juris Hour. She has 7+ years of experience on covering tax litigation stories from the Supreme Court, High Courts and various tribunals including CESTAT, ITAT, NCLAT, NCLT, etc. Mariya graduated from MLSU Law College, Udaipur (Raj.) with B.A.LL.B. and also holds an LL.M. She started her career as a freelance tax reporter in the leading online legal news companies.

Latest articles

₹2.02 Crore Precious Stones Seized After Bangkok Passenger Intercepted At Delhi Airport

Customs officers at Indira Gandhi International Airport, New Delhi, have arrested an Indian passenger...

DHA Algae Oil Is Taxable As Vegetable Oil, Not Pure Fatty Acid: CESTAT 

The Customs, Excise and Service Tax Appellate Tribunal (CESTAT), New Delhi, has upheld a...

Commission From Multi-Level Marketing Attracts Service Tax: CESTAT

The Customs, Excise and Service Tax Appellate Tribunal (CESTAT), New Delhi, has upheld a...

NIDB Data Alone Can’t Justify Customs Value Hike; Duty on Undeclared Goods Upheld: CESTAT

The Customs, Excise and Service Tax Appellate Tribunal (CESTAT), New Delhi, has held that...

More like this

₹2.02 Crore Precious Stones Seized After Bangkok Passenger Intercepted At Delhi Airport

Customs officers at Indira Gandhi International Airport, New Delhi, have arrested an Indian passenger...

DHA Algae Oil Is Taxable As Vegetable Oil, Not Pure Fatty Acid: CESTAT 

The Customs, Excise and Service Tax Appellate Tribunal (CESTAT), New Delhi, has upheld a...

Commission From Multi-Level Marketing Attracts Service Tax: CESTAT

The Customs, Excise and Service Tax Appellate Tribunal (CESTAT), New Delhi, has upheld a...