Service Tax on Insurance Agents

Hi,

      Can you please let me know wheather Service Tax is to be Charged on Services provided by a Insurance Agent who is carrying the same as his Business and has his commission more than 8 lacs from the same......please reply back...

 

thank you

Bharath Jain

Replies (8)

Such service provided by Insurance Agent is liable to Tax under Section 65 (105)(zl) under the Catagory of "Insurance Auxiiliary Services".

The liability is on insurance company and service tax should be paid by the company not the agent.

Then whats the procedure to file the half yearly returns.......

The service tax liability of any insurance agent will be vested with the insurance company and not the insurance agent.

The procedure to file half yearly returns is to furnish info. in Form ST-3 with the details available with you in GAR/TR-6 challan(s). The return must be filed with 25 days from the end of 6 months. There is no need to maintain separate books for service tax details. The format or type that you have maintained for your accounts is sufficient.

"Then whats the procedure to file the half yearly returns......."

       If it pertains the same insurance agent, there is no need to file the return.

Can you please let me know, how do you account this service tax in the books of the insurance agent. Also can you let me know how you would raise an invoice for the commission, because if service tax component is showed in the invoice then the same has to be discharged.

Please clarify, or if any other method can be followed.

ok

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
10 October 2026
Accounts Associate Level 1

Abic and Mani Chartered Accountants

Kottayam

B.Com

View Details
Company
14 October 2026
Asst. Manager/Dy Manager (Costing)

manufacturing

Pune

CMA

View Details
Company
ARTICLESHIP 23 October 2026
CA Articleship / Article Assistant

M N Rao & Associates LLP

Vijayawada

CA Inter

View Details
Company
Featured ARTICLESHIP 28 October 2026
CA- Inter and Articles

N N V Satish & Co.,

Hyderabad

CA Inter

View Details
Company
ARTICLESHIP 20 October 2026
CA ARTICLE

AMKN & CO

Noida

CA Inter

View Details
Company
ARTICLESHIP 07 October 2026
Article Assistant

Malhotra Rajesh & Associates

New Delhi

B.Com

View Details
Company
15 October 2026
Senior Accountant

Continental Belting Pvt Ltd

Mumbai

B.Com

View Details
Company
ARTICLESHIP 25 October 2026
Article Intern (CA Articleship)

Arpan Bohra & Co

Hyderabad

CA Inter

View Details