Insurance commission is liable for service tax

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

06 July 2012 Dear Sir,

My Company Is Booking Travel Insurance For Many Clients. And Our Company Is Received Insurance Commission From Insurance Company .

Sir my Question Is

Comm. rec. From Insurance Company Is Liable for Service Tax Or Not.

Regards

vipin

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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06 July 2012 In respect of services provided by an agent to the insurance company, reverse charge is applicable and the insurance company is liable to pay service tax on the same.

The agent is NOT liable to service tax in this case.

PUNEET GOYAL

PUNEET GOYAL (Expert)
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06 July 2012 As per NN 30/2012 St dated 20.06.2012, in case of commission received by insurance agent, service tax is required to be paid under reverse charge mechanism i.e. insurance compnay need to pay service tax.

CA Suresh Jain

CA Suresh Jain (Expert)
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10 December 2016

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