Authorised service provider and insurance service
This query is : Resolved
24 December 2013
hello everyone,
my client runs a bajaj showroom .He is an authorised service provider and pays service tax on such service .He also started providing insurance service .Is he liable to get this service of insurance registered when receipts of both the services in total are less than 9 lakhs ... if valuable of taxable services exceed 9 lakh , how will he be able to avail exemption ?
my client runs a bajaj showroom .He is an authorised service provider and pays service tax on such service .He also started providing insurance service .Is he liable to get this service of insurance registered when receipts of both the services in total are less than 9 lakhs ... if valuable of taxable services exceed 9 lakh , how will he be able to avail exemption ?
24 December 2013
Dear Shefali,
your client is not required to register himself, since he is providing insurance agency services.
this is covered under the Reverse Charge Mechanism and thus, the insurance company is liable to pay ST on the commission amount and not your client.
Thus, there is no requirement of registration.
your client is not required to register himself, since he is providing insurance agency services.
this is covered under the Reverse Charge Mechanism and thus, the insurance company is liable to pay ST on the commission amount and not your client.
Thus, there is no requirement of registration.
Message likes :
1 times
24 December 2013
my client also provides finance service ...should he get himself registered for such service if aggregate value of taxable service is less than 9 lakhs and how will he get exemption if such aggregate value taxable service( finance + authorised service agent) is 12 lakh
24 December 2013
finance service as in?? which kind of?? he gives the loans or arranges for the loans??
24 December 2013
I am asking, is your client giving actual loans, or is arranging for the loan with Bajaj Finance??
it seems, he arranges the finance from Bajaj Finance...hence, he will become a DSA and thus, Service Tax is payable by him in the commission amount earned by him from the company
it seems, he arranges the finance from Bajaj Finance...hence, he will become a DSA and thus, Service Tax is payable by him in the commission amount earned by him from the company
24 December 2013
it seems, he arranges the finance from Bajaj Finance...hence, he will become a DSA and thus, Service Tax is payable by him in the commission amount earned by him from the company
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- GST Audit whether Govt Companies are exempt?
- PTRC Show Cause Notice on Email
- Accounting treatment of AMC alongwith the purchase of Laptop
- Unable to File TDS Q2 Return – New TRACES Portal Error
- Taxation of crypto futures in India Fy 2026- 2027
- Transfer of Physical Stock Between Two Proprietorship Concerns
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- EPF ECR NEW RULES Sep 17th 2026
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
