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Insurance commission

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(Querist)
23 December 2019 A proprietor engaged in Trading business and he receives LIC commission.LIC commission is Taxable supply or exempted supply to file GSTR-1 and GSTR-3B. Please clarify my doubt
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Rajesh Kumar

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Rajesh Kumar (Expert)
23 December 2019 Insurance commission is an exempt supply for the insurance agent as GSTis payable under rever charge mechanism.
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Gogale

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Gogale (Querist)
23 December 2019 If it is exempted supply,Is it mandatory to disclose it as exempted sales in GST Returns in the month when i receive that commission ?



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Rajesh Kumar

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Rajesh Kumar (Expert)
31 December 2019 Yes. It should be reflected in the exempt sales.

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