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GST applicability on LIC commission agent.

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Article
25 Points Joined August 2014
Wheter GST registration needs to taken when commission income exceeds Rs. 20 lakhs of insurance agent ?
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On 20 January 2020 at 21:59 Report
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3924 Points Joined December 2017
Irrespective of the turnover , Compalsary registration for Agents . Rcm applicable .
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On 20 January 2020 at 22:19
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GST Practitioner
55067 Points Joined June 2017
No......... As the services of Insurance Agent is Under RCM, cover under Section 9(3) , hence in term of Notification 5/2017 CT , the person who are ONLY engaged in making supply goods or Services ,the tax on which is paid on RCM by Receptient is not required to obtain Registration.
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On 20 January 2020 at 23:52
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3924 Points Joined December 2017
Yes , Pankaj rawat is correct , registration not required , sorry for mistake due to oversight .
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On 21 January 2020 at 07:17
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18 Points Joined October 2016
What is the position if insurance agent is also accountant and his turnover exceeds taxabke limit and he is registered under gst
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On 17 August 2020 at 12:45
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Mutual Fund Distributor INSURANCE ADVISO
55 Points Joined May 2012

What about if  Life Insurance agent is also a MFD & cross threshold limit of 20 Lakh?

on first time registration under composition after crossing threshold limit, Whether have to pay GST on LIfe & General insurance commission also, Or on MFDs Commission ?

Please clarify

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On 06 February 2022 at 10:48

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