Service tax on insurance agents
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
21 February 2013
Sir,
I have a query relating to the Service Tax on Insurance Agents.One of my Client gets his insurance Commission with a Deduction of 7.36% for Service Tax with a Declaration that The Company bears 5% of the part of the Whole Amount of Service Tax.My question is whether it is Correct or Not?
I have a query relating to the Service Tax on Insurance Agents.One of my Client gets his insurance Commission with a Deduction of 7.36% for Service Tax with a Declaration that The Company bears 5% of the part of the Whole Amount of Service Tax.My question is whether it is Correct or Not?
21 February 2013
as per the provisions, negative list items and reverse charge mechanism., the company has to bear the 12.36%. but there are no clear cut provisions as who has to bear the entire service tax., so in the above situation the company is bearing 5% and the agent 7.36%., we have to wait until any judgement or any circular in this regard has to be relased
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
- Claiming exemption of perquisite for employee-owned car under New Tax Regime in ITR-2
- Building and other construction workers welfare cess act 1996
- Eway bill for machinery reparing
- ITR 3 FILING OF AN INDIVIDUAL (PARTNER IN A PARTNERSHIP fIRM)
- Gift of mutual fund units to daughter
- TDS ON CASH WITHDRAWALS...
- Reporting of STCG on Property in ITR
- 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
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
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
