Re-imbursement of Paid Marine Insurance on behalf of client
This query is : Resolved
07 July 2025
Dear Sir/Madam,
Please assist under business auxiliary services.
We have taken the consolidated marine insurance policy in our name "to cover the risk of loss of cargo/high value shipments" of our clients (consignee/importer).
e.g.
Premium paid to Insurance Company by us on behalf of 'actual clients'.
If any claim during the shipment imports from place of outside of India, it will be settled to beneficiary/clients account directly.
We are providing the additional service to our client to secure the import of goods in Transit.
After successful delivery of the goods, we raise our bill to recipient as Re-imbursement of marine insurance premium paid without addition of margin.
In this matter is there any GST or RCM applicable or not?
Waiting for your reply.
Please assist under business auxiliary services.
We have taken the consolidated marine insurance policy in our name "to cover the risk of loss of cargo/high value shipments" of our clients (consignee/importer).
e.g.
Premium paid to Insurance Company by us on behalf of 'actual clients'.
If any claim during the shipment imports from place of outside of India, it will be settled to beneficiary/clients account directly.
We are providing the additional service to our client to secure the import of goods in Transit.
After successful delivery of the goods, we raise our bill to recipient as Re-imbursement of marine insurance premium paid without addition of margin.
In this matter is there any GST or RCM applicable or not?
Waiting for your reply.
08 July 2025
No. Not applicable.
26 September 2025
Good luck...
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- CG Tax On residential property
- Post Office RD Interest
- Applicable TDS for Purchase of Flat from NRI
- Eway bill for machinery reparing
- Claiming exemption of perquisite for employee-owned car under New Tax Regime in ITR-2
- Gift of mutual fund units to daughter
- Reporting of STCG on Property in ITR
- Not able to file ITR
- Building tax payment deduction in rental Income
- Under construction property in ITR
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
