Insurance Commission Received whether taxable or not under GST?? He is also doing sale of taxable supplies.

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..... Insurance Commission Received whether taxable or not under GST?? He is also doing sale of taxable supplies.
Query (Issue) Started By: - Rajendra Prasad Dated:- 18-3-2020 Last Reply Date:- 14-7-202 .....

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..... 0 Goods and Services Tax - GST
Got 4 Replies
GST
Sir Insurance commission received whether taxable under GST or not???? He is also doing sale of taxable supplies... Reply By CAVenkatapra .....

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..... sad Pasupuleti: The Reply: It is liable for GST and only premiums for certain policies is exempted from GST. Reply By Ganeshan Kalyani: The Reply: Yes, insurance commission is liable to GST subject .....

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..... to threshold limit of taxability. Reply By Rachit Agarwal: The Reply: Insurance commission is liable to GST under reverse charge. The Insurance company will discharge the tax on the commission paid .....

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..... to Insurance Agent under reverse charge pursuant to Notification No- 13/2017 dated 28.06.2017. Hence there will be no liable to discharge GST on Insurance Agent. However for the purpose of computin .....

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..... g the turnover, the insurance commission received would form part of the turnover Reply By amit mamgain: The Reply: hi Sir , Need a clarification . Can insurance deduct GST from the commission paid .....

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..... to the insurance agent? Thanks Amit
Discussion Forum - Knowledge Sharing .....

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