Insurance policy

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Kkk
885 Points Posted on 10 March 2022
if a person sells insurance policy and work as an insurance agent then where to show such policy in gst returns.
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On 10 March 2022 at 18:16 Report
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Quick Summary
This discussion clarifies the Goods and Services Tax (GST) implications for insurance agents selling policies. It confirms that under Notification 13/2017, the Reverse Charge Mechanism (RCM) is applicable to services supplied by insurance agents to insurance companies. This means the agent needs to account for the GST on these services.

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GST Practitioner & Accounts
8990 Points Posted on 10 March 2022
As per notification 13/2017 , dated 28/6/2017
services supplied by the Insurance Agent to Insurance company , reverse charge (RCM) applicable . please confirm from the Notification.
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On 10 March 2022 at 18:42
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GST Practitioner & Accounts
8990 Points Posted on 10 March 2022

Please do not consider above reply , May be  wrong , please wait for others reply .

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On 10 March 2022 at 19:02
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Kkk
885 Points Posted on 11 March 2022
Plz reply its urgent
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On 11 March 2022 at 12:57
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44 Points Posted on 11 March 2022
Yes RCM is applicable on insurance service supplied by insurance agent.
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On 11 March 2022 at 21:07

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