Please Wait ..

Sign-in to your account


Username:
Password:

Remember Me

Forgot your password?

Sign-up now



Join CAclubindia.com and Share your Knowledge. Registered members get a chance to interact at Forum, Ask Query, Comment etc.


Discussion > Service Tax > Queries >

Service Tax on Insurance Agents

    Post New Topic
Pages : 1





Article Assistant Student

[ Scorecard : 54]
Posted On 28 May 2008 at 17:55 Report Abuse

Hi,

      Can you please let me know wheather Service Tax is to be Charged on Services provided by a Insurance Agent who is carrying the same as his Business and has his commission more than 8 lacs from the same......please reply back...

 

thank you

Bharath Jain


Online classes for CA CS CMA



Dilip Darji

[ Scorecard : 300]
Posted On 28 May 2008 at 18:32

Such service provided by Insurance Agent is liable to Tax under Section 65 (105)(zl) under the Catagory of "Insurance Auxiiliary Services".





OFFICESELVA
Service

[ Scorecard : 512]
Posted On 28 May 2008 at 20:15

The liability is on insurance company and service tax should be paid by the company not the agent.




Bharath Jain
Article Assistant Student

[ Scorecard : 54]
Posted On 28 May 2008 at 23:21

Then whats the procedure to file the half yearly returns.......




M.Sriram Shenoy
CA Final

[ Scorecard : 794]
Posted On 29 May 2008 at 10:00

The service tax liability of any insurance agent will be vested with the insurance company and not the insurance agent.




M.Sriram Shenoy
CA Final

[ Scorecard : 794]
Posted On 29 May 2008 at 10:03

The procedure to file half yearly returns is to furnish info. in Form ST-3 with the details available with you in GAR/TR-6 challan(s). The return must be filed with 25 days from the end of 6 months. There is no need to maintain separate books for service tax details. The format or type that you have maintained for your accounts is sufficient.




OFFICESELVA
Service

[ Scorecard : 512]
Posted On 30 May 2008 at 08:55

"Then whats the procedure to file the half yearly returns......."

       If it pertains the same insurance agent, there is no need to file the return.




Pradeep Kumar N
ArticleShip

[ Scorecard : 28]
Posted On 14 June 2010 at 18:08

Can you please let me know, how do you account this service tax in the books of the insurance agent. Also can you let me know how you would raise an invoice for the commission, because if service tax component is showed in the invoice then the same has to be discharged.

Please clarify, or if any other method can be followed.




PRADEEP & SUDHIR JI
CA FINAL+LLB

[ Scorecard : 2289]
Posted On 14 June 2010 at 19:06

ok



There are 8 Replies to this message








Related Files








Related Threads


Post your reply for Service Tax on Insurance Agents



Your are not logged in . Please login to post replies

Click here to login


Not a member yet ?? Click here to signup

Message







    

  • Use thank button to convey your appreciation.
  • Maintain professionalism while posting and replying to topics.
  • Try to add value with your each post.




Forum Home | Forum Portal | Member Control Center | Who is Where | Popular Threads | Today's Topic | Recent Posts | Today's Posts | Post New Topic | Thread With Files | Top Threads This Month | Forum Stats | Unreplied Threads

back to the top