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Applicability of service tax

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Querist : Anonymous

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Querist : Anonymous (Querist)
23 August 2011 An life insurance agent of life insurance corporation of india got commission of Rs. 10.50 annualy in fin year ended 31.3.2011

Is he liable to deposit the service tax or some provision is there that lic will deposit the same
Pl clarify

Punish
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U S Sharma

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U S Sharma (Expert)
23 August 2011 it has been provided in the Service Tax Rules that the person liable to pay service tax will be the concerned insurance company who has appointed the agent. Notification no. 5/2001-ST refers.

https://www.eximkey.com/contents/showpage1.asp?pageid=8746
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