TMI BlogRate of service tax on insurance commissionX X X X Extracts X X X X X X X X Extracts X X X X ..... Is an insurer correct in deducting 6.18% service tax from insurance commission paid to its Agents. - Reply By Surender Gupta - The Reply = Service Tax liability in case insurance commission is on in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... surance companies. Had it been the liability of the agent, agent would have charged Rs. 100 + ST. But, now agent is charging only Rs. 100/-. Therefore, insurance companies should not deduct the amount ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of service tax from the commission payable to agents. But, it in this case provisions of service tax act would not help. But, the terms and conditions of mutual contract / agreement would prevail. - ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Reply By Dinesh Kumar Agrawal - The Reply = Service provided by agents to the Insuarnce companies are liable for service tax and for ease of collection, insurance companies are required to pay. Commis ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sion payable to agents are cum ST and therefore deduction of ST by insurance companies is correct. Agents should request for hiking of their commission or should protest as ST paid by the insurance co ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... mpanies is available to the companies as CENVAT credit on input service. - Rate of service tax on insurance commission - Query Started By: - OM PRAKASH Dated:- 15-1-2009 Service Tax - Got 2 Replies ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... - Service Tax - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - T ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... MITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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