Applicability of service tax on commision agent

Queries 5247 views 4 replies

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.

Replies (4)

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.

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?

 

 

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. 

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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