Respected Members,
I am getting LIC commision of Rs. 28L yearly. So do I need to get registered under GST and charge the GST on commission.
Pls reply.
7 Replies
prasad Nilugal
( GST Practitioner & Accounts )
(14868 Points)
Replied 04 July 2024
Are you getting Commission as a LIC Agent or something else ?.
prasad Nilugal
( GST Practitioner & Accounts )
(14868 Points)
Replied 04 July 2024
What type of service you provide to LIC ?.
Saket Prajapati
(6 Points)
Replied 04 July 2024
Dear sourabh, answer is no bcoz lic agent like a service man, and gst law says 40L yearly tournover if u have then u complsary GST reg.
othervise no.
othervise no.
prasad Nilugal
( GST Practitioner & Accounts )
(14868 Points)
Replied 04 July 2024
If you are LIC Agent, then RCM applicable in such type of case , please refer RCM Notification 13/2017 dated 28/6/2017 (entry 7) and Confirm. take more opinion on this.
Kishor Lulla
(1011 Points)
Replied 05 July 2024
L I c agent is never liable. company pays under r c m
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