If a person being an agent towards Insurance Company and earns commission for the intermediary services should get registered under GST or not, if registered under GST and the Insurance Company pays GST under RCM towards agent services, what should the agent report in his GST returns monthly.
Please let me know and Thanks.....
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GST ON INSURANCE COMMISSION
Replies (2)
No, he is not required to get registered till basic exempted amount of aggregate supplies.
If insurance agent only dealing in rcm service then he is not required to register irrespective of turnover.
rcm on insurance commission to be paid by insurance company
rcm on insurance commission to be paid by insurance company
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