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Service tax on insurance agents

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Querist : Anonymous

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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?
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CA bhargava

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CA bhargava (Expert)
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
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