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Rcm on insurance
if a person had taken gst for advertisementant (proprietorship) and he is insurance agent also. he receive money from client for policy and he transfered this to insurance company and receive commission then whether that policy amount is liable to gst for that person under gst or not.and whether he is required to show it on gst portal or not in gstr1 or gstr3b.
Replies (4)
Quick Summary
No, insurance company will pay gst under RCM
And no liability on insurance agent. and the treatment of commission in income tax is just to show it in itr.
Yes, no liability on insurance agent and commission will be shown in itr.
Ok thank u
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