Applicability of service tax on commision agent



whether service tax is applicale for commission agent of SAHARA INDIA on commission income by way of providing service in relation to RD/FD.

whether the same is to be treated as similer to Insurance commission.

whether RCM is applicale.

 
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Tax Consultant

Sir,

Particluarly has not been difined in such type of "Recovery Agent" in Service Tax law & But its coming under the RCM procedure as per Notification No:30/21012 dated as amended by Notification No:10/2014-ST dated 11.07.2014.

In this taxable services are provided (or) agreed to be provided by a recovery agent to a banking company, financial or non financial banking institution company, 100% of Service Tax applicable on such services are required to be paid by Service Receiver i.e.banking company, financial or non financial banking institution company.

 
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THANK YOU SIR

the agent in SAHARA india providing their services for RD and FD,

is this service is similer to insurance agent foe the purpose of service tax?

 

 

 
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Tax Consultant

Dear Sir,

If this service similar to Insurance agent service, surely its coming under the Reverse Charge as per Notification No: 30/2012 dated 20.06.2012. In view of the aforesaid Notification,100% Service Tax liability belongs Service Receiver i.e. Insurance company who's carrying on Insurance Business. 

 
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Whether service tax is applicale on Recurring agent income of Aadarsh Co-operative by way of providing service in relation to RD/FD?

Whether RCM is applicable?

 
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