Insurance commission business & service tax
This query is : Open
14 August 2012
DEAR SIR,
MY ONE CLIENT IS ENGAGED IN INSURANCE COMMISSION BUSINESS SINCE LAST 10 YEAR, HIS A.Y.2012-13 GROSS COMMISSION INCOME IS RS.20,10,500/- IS HE LIABLE TO PAY SERVICE TAX?
MY ONE CLIENT IS ENGAGED IN INSURANCE COMMISSION BUSINESS SINCE LAST 10 YEAR, HIS A.Y.2012-13 GROSS COMMISSION INCOME IS RS.20,10,500/- IS HE LIABLE TO PAY SERVICE TAX?
CA Suresh Jain
(Expert)
15 August 2012
No, he is not liable to pay service tax. It is the insurance Company which is liable to pay service tax under the reverse charge mechanism
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