06 May 2014
Dear Expert Insurance agent receives commission from insurance company and service tax is also paid by insurance company as per reverse charge mechanism Q1)Now commission received has crossed Rs 10 Lakhs, Is insurance agent require to get himself registered under service tax? even though he is not require to pay service tax since it is paid by insurace company.
Q2) if yes then under which category of service, insurance agent should get himself registered?
07 May 2014
Dear Tushar as per section 69(1) Every person liable to pay the service tax and 69(2) the notified person by CG i.e service reciver incase of reverse charge mechanism are require to register
in case of insurance agent he is not liable to pay service tax and insurace company is liable to pay
CAclubindia
