Rcm
This query is : Resolved
05 August 2019
Hi
I am an insurance agent and hence gst is applicable on rcm basis. hences not registered under gst till date.
but now commission is exceeding 20 lakhs. whehther registration applicable now
I am an insurance agent and hence gst is applicable on rcm basis. hences not registered under gst till date.
but now commission is exceeding 20 lakhs. whehther registration applicable now
05 August 2019
No , registration is not applicable , if you are exclusively engaged in providing insurance agent services
As per Notification No. 5/2017- Central Tax dated 19/06/2017, a person who is exclusively engaged in making only supplies of taxable goods/services on which reverse charge applies is exempted from obtaining registration under GST.
As per Notification No. 5/2017- Central Tax dated 19/06/2017, a person who is exclusively engaged in making only supplies of taxable goods/services on which reverse charge applies is exempted from obtaining registration under GST.
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