S TAX DEDUCTION

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..... S TAX DEDUCTION
Query (Issue) Started By: - SHASHIKANT DIXIT Dated:- 17-4-2014 Last Reply Date:- 20-4-2014 Service Tax
Got 2 Replies
Service Tax
DEAR SIR I WOULD LIKE TO KNOW THAT WHAT I .....

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..... S PROCESS OF SERVICE TAX DEDUCTION FROM THE IA COMMISSION PAID BY SBI LIFE INSURANCE CO LTD. IF THERE ARE ANY LEGAL ISSUE FOR THIS DEDUCTION THAEN PLEASE TELL MAY THIS DEDUCTION BE REFUNDED BY CONCERN .....

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..... DEPARTMENT. Reply By vidhi bansal: The Reply: Sir.... At first i would like to inform you that payment of insurance commission covered under reverse charge mechanism. so as per law at the time of p .....

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..... ayment of commission, SBI LIFE INSURANCE Co ltd. will deduct the amount of service tax at the rate of 12.36 percent and pay to the central government. and net amount to be paid to insurance agent. Re .....

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..... ply By Naveed S: The Reply: Yes, the liability to pay service tax will be on the Insurer and not on commission agent. Refer Rule 2 (1) (d) (i) (A) of Service Tax Rules, 1994. No refund is available .....

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..... from the department for the service tax paid by insurance company for the commission paid to agent.
Discussion Forum - Knowledge Sharing .....

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