Gst on lic commission
This query is : Resolved
20 December 2018
Hi,
I am LIC agent and i have GST number because of some other business. now i am getting other income receipt with GST but LIC has refused to pay Commission inclusive with GST. Kindly provide me detail or notification so i can show it to LIC.
I am LIC agent and i have GST number because of some other business. now i am getting other income receipt with GST but LIC has refused to pay Commission inclusive with GST. Kindly provide me detail or notification so i can show it to LIC.
20 December 2018
As per my opinion there is a notification in respect of services which are covered under reverse charge mechanism and it includes services supplied by an insurance agent to any person carrying on insurance business therefore your services are liable to RCM and you need not collect GST from LIC....
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