St on life insurance agent commission
This query is : Resolved
20 September 2013
Whether ST applicable on agent's commission ? Why ?
20 September 2013
Commission agent provides the service to the principal for selling the policies to the client which a falls under the ambit of the service tax and therefore taxable @12.36%. But, in case of commission on life insurance premium the recipient of service is liable to pay the service tax
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20 September 2013
In case of LIC agent service receiver is liable to pay service tax which is LIC itself.
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