07 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 (100% to be paid by SR)
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? (Q2 not very impt)
Q3) if yes then while filling ST 1 in point no 4. Category of Registrant what is to be tick ? under (a) Person liable to pay service tax i) service provider or service receiver? Or (b) Other person/class of persons?
as per section 69(1) every person liable to pay service tax and section 69(2) the notified person by CG i.e service receiver should get register under service tax.
incase if 100% ST is to be paid by service receiver then even service provider should get himself registered?
07 May 2014
as per notification no 30/2012-st you are not liable s tax under RCM you are only service provider so not required s tax registration. can u got insurance commission under section 194D so not problem to u
CAclubindia
