Service tax no

This query is : Resolved

Chandresh Sheth (Querist)
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25 September 2013 Hello Friends

I have Private Limited Co., and I Have Insurance Brokers Licences.,

question: My Insurance Brokers Licences valid from FY 01.01.2013 and my commission is below 10 lacs in FY 2012-13. Can i Collect service tax from Insurance Co.

Same Criteria in FY 2013-14 Still my commission not cross Rs. 10 lacs.,

There is any notification from service tax department working with multiple co's
i should collect service tax from Insurance Co. and Paid to Govt of Dept..

Nishant Sheth

CA Suresh Jain

CA Suresh Jain (Expert)
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25 September 2013 As per provisions of notification 33/2012, since, taxable value of all services provided by you has not exceeded Rs. 10 lakh during F.Y. 2012-13, you are not liable for service tax provided taxable value of service in the F.Y. 11-12 was also less then 10 lakh..

If taxable value of services have crossed Rs. 9 lakh then your were required to register yourself.You are right in thinking that service tax in current year shall also not be payable on the turnover of taxable service upto Rs. 10 lakh.

It is not necessary for you to charge service tax even if you are working with more than one company

disclaimer- all answers are given as per the facts narrated by you. Answer may differ after study of full facts/statements/agreements etc. involved in the case

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