26 October 2012
Service by insurance agents to person carrying on insurance business i.e. ins co only covered under reverse charge. Accordingly in case of sub brokers , if thier turnover is exceeding 10 lacs , they need to charge service tax and deposit the same...
thanks for the reply...but there is one issue...some banks pay the service tax and others donot...thts the practical aspect of trade...in this case wht shall be the relief for the sub brokers?
CAclubindia
