Become a Govt. Certified GST Practitioner in just 58 hours. Register Now!

Service tax

GOVIND MOHAN MISHRA (STUDENT IPCC) (241 Points)

06 April 2015

As Insurance brokers received renummeration from insurance companies the service tax liability will be of insurance company then why insurance broker have to registered himself in service tax kindly explain in detail

Read more at

Reply
Follow
Share

1 Replies

Sriram (CMA Final) (178 Points)
Replied 06 April 2015

For Individual Agents and Corporate Agents Service Tax Liability will be on Insurance Company. Insurance company have to remit to govt. on reverse charge mechanism. while coming to brokers. Service Tax Liability will be on brokers. brokers have to rise Commission Invoice along with Service tax and they have to remit to Govt.