GST applicability on LIC commission agent.

Wheter GST registration needs to taken when commission income exceeds Rs. 20 lakhs of insurance agent ?
Replies (5)
Quick Summary
This discussion clarifies whether LIC commission agents need to register for GST. Generally, if an agent's services are solely covered under Reverse Charge Mechanism (RCM) and the recipient pays the tax, registration might not be compulsory, even if income exceeds the threshold. However, if an agent also provides other taxable services (like accounting or MFD services) and their total turnover exceeds the threshold, GST registration becomes necessary. The applicability of GST on commissions from Life Insurance and General Insurance, versus MFD commissions, also needs careful consideration in such mixed scenarios.

Irrespective of the turnover , Compalsary registration for Agents . Rcm applicable .
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.
Yes , Pankaj rawat is correct , registration not required , sorry for mistake due to oversight .
What is the position if insurance agent is also accountant and his turnover exceeds taxabke limit and he is registered under gst

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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