Applicability
This query is : Resolved
Shashidhar
(Querist)
13 August 2013
Sir,
1) I have two wheeler showroom and own insurance agency. On the commission received by insurance company whether there is service tax applicable? and if yes what %age and from which date?
2) Relating to two wheeler showroom, tied up with finance company and the payment made from finance company to me, whether there is any service tax applicable? and if yes what %age and from which date?
1) I have two wheeler showroom and own insurance agency. On the commission received by insurance company whether there is service tax applicable? and if yes what %age and from which date?
2) Relating to two wheeler showroom, tied up with finance company and the payment made from finance company to me, whether there is any service tax applicable? and if yes what %age and from which date?
CA Suresh Jain
(Expert)
14 August 2013
1. For your service as an insurance agent to the insurance Company, the insurance company only is liable to pay Service tax under reverse charge mechanism.
2. You are not liable to pay any service tax on the amount of sale consideration or value of goods sold received by you from a finance company
disclaimer- all answers are given as per the facts narrated by you. Answer may differ after study of full facts/statements/agreements etc. invloved in the case
2. You are not liable to pay any service tax on the amount of sale consideration or value of goods sold received by you from a finance company
disclaimer- all answers are given as per the facts narrated by you. Answer may differ after study of full facts/statements/agreements etc. invloved in the case
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Shashidhar
(Querist)
19 August 2013
Thank you sir for your reply.
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