Gst deduction from commission

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CA.Gopal Rathi

CA.Gopal Rathi

(Querist)

29 September 2017 A LIC / Mutual fund agent whose gross commission receipts are less than Rs.20 lakhs so not registered under GST. But LIC and mutual fund AMC are deducting GST from commission. Can refund of such deducted GST be claimed ? Whether GST registration for such agents be taken ? Why to bear GST when there is no liability to pay arises ?? please provide suitable solution.

RAJA P M

RAJA P M (Expert)

29 September 2017 Yes... First commission business registration is mandatory under GST... So, You can register under GST then you can give bills to the Lic and MF Dept...

RAJA P M

RAJA P M (Expert)

29 September 2017 In My View refund is not available for before Registration. In case you can give bills after registration then you ll claim GST. But, possible by accepting your principals...

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)

29 September 2017 For your service reverse charge applicable hence no need for you to register under GST. The insurance companies pay GST under reverse charge not to deduct from your commission.
Take up the issue with GST authorities/Insurance companies.

RAJA P M

RAJA P M (Expert)

29 September 2017 Yes. You are exactly correct Sir., I agreed to Mr CA SEETHARAMAN Sir...

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