Tax
This query is : Resolved
Quick Summary
08 April 2020
Mr. Bhudev Aggarwal, an unregistered person receives commission of Rs. 21,00,000/-
as an insurance agent from insurance company. Will he be required to charge GST on
the same.
as an insurance agent from insurance company. Will he be required to charge GST on
the same.
KAVIRAJA ADDANGADI
(Expert)
08 April 2020
Insurance agent commission falls under reverse charge u/s 9(3). So companies have to pay GST on agent's behalf and this si the same excuse they give to agent while deducting GSt from agent's commision.
08 April 2020
No GST is required to be charged by the agent because GST will be paid by the insurance company under RCM
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