Partial reverse charge
This query is : Resolved
19 June 2014
Can anyone give me example for reverse charge applicable in case of insurance buisness..plz..I need example not how much who will pay and to whom
Nikhil Kaushik
(Expert)
19 June 2014
for insurance business, the reverse charge is not partial but 100% borne by the insurance company.
To exemplify if you take an insurance agency with Aviva life insurance company. At the time of paying insurance commission to you, Aviva will pay whole of the service tax on its own. you wont have to pay any service tax.
To exemplify if you take an insurance agency with Aviva life insurance company. At the time of paying insurance commission to you, Aviva will pay whole of the service tax on its own. you wont have to pay any service tax.
CA Sandeep Kumar
(Expert)
20 June 2014
I am agree with Mr. Nikhil Kaushik.
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