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Service tax or gst?

Ravi Darisi (Retd. Genl. Mgr. RIL Navi Mumbai) (39 Points)

12 July 2017

I paid Ins. premium alongwith Service Tax thereon in June, 2017 whereas it was actually due in July, 2017. Now the Ins. Co., is asking me to pay the difference, saying since the premium became due only in July, GST is applicable. Please guide.

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5 Replies

Debashish Sarkar (Commercial Manager) (220 Points)
Replied 12 July 2017

Insurance company may not ask for difference amount. Please refer section 13 of CGST act for Time of supply of service.

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RAJA P M ("Do the Right Thing...!!!") (128101 Points)
Replied 12 July 2017

yes...

Insurance company asking to correct way.

Bcoz, They consider your payment is advance

Debashish Sarkar (Commercial Manager) (220 Points)
Replied 13 July 2017

Due date of payment is the last date of payment. However, all the premiums are advance and even in tha case advance received prior to 30.06.2017.

Please enlight..

Ravi Darisi (Retd. Genl. Mgr. RIL Navi Mumbai) (39 Points)
Replied 13 July 2017

Thanks, Mr. Debashish. Your views are in line with my own understanding. In case Mr. Raja comes up with a reasoning, this discussion can be reopened. Thanks & Bye.