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HomeNotificationGST Exemption On Third-Party Motor Vehicle Premiums Collected Towards Motor Vehicle Accident...

GST Exemption On Third-Party Motor Vehicle Premiums Collected Towards Motor Vehicle Accident Fund: CBIC

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By Mariya Paliwala
GST Exemption On Third-Party Motor Vehicle Premiums Collected Towards Motor Vehicle Accident Fund: CBIC

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The Central Board of Indirect taxes and Customs (CBIC) on the recommendation of the 55th GST Council Meet, notified the GST exemption on third-party motor vehicle premiums collected towards motor vehicle accident fund.

No GST shall be payable 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.

Read More: CBIC Amend Definition Of Specified Premises To Link It With Actual Value Of Supply Of Any Unit Of Accommodation Provided By Hotel

Notification Details

Notification No. 06/2025- Central Tax (Rate)

Date: 16/01/2025

Click Here To Read Notification
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.

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