Liability of service tax on brokerage

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..... We are life insurance brokers. We receive brokerage from life insurance companies and bill the service tax over and above the brokerage. What is the law. Who should pay the service tax. - Reply By V .....

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..... Ramanujam - The Reply = In your case of insurance agency business, the relevant life insurance company receiving the service is liable to pay service tax. Ref - Sec.68(2) of Finance Act,1994 read .....

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..... with Rule 2(1)(d)(iii) of Service tax Rules,1994 . - Reply By Surender Gupta - The Reply = As per rule 2(d)(iii) of the Service Tax Rules, in case of Insurance Agent, the insurance company shall .....

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..... be liable to pay service tax. Insurance agents are not liable to pay service tax. However, this provision is not applicable to persons who are not insurance agents. - Liability of service tax on brok .....

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..... erage - Query Started By: - V Sithapathy Sithapathy Dated:- 28-7-2008 Service Tax - Got 2 Replies - Service Tax - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax .....

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..... Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax .....

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