TMI BlogINSURANCE AGENT CROSING 20 LAKHX X X X Extracts X X X X X X X X Extracts X X X X ..... My client have crossed the 20 Lakh limit of GST. He is Insurance Commision Agent. He is Regularly Filing GST Returns Since Jan-2019. His company Rejects his Reimbursement of GST. and Said that Insurance Commission attracts Reverse Charge. Whats is actual process.? - Reply By KASTURI SETHI - The Reply = Yes. Services of insurance agent are under RCM. See notification No. 13/17-CT(Rate) dated 28. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 6.17 as amended. Serial No.7 of notification refers. Under RCM no threshold exemption is available. - Reply By RAHUL GAIKWAD - The Reply = Then while Filing GSTR 3B - What information and in which colum we have to put.? - Reply By KASTURI SETHI - The Reply = Serial No. (b) of Table No.3.1 is to be filled in. Gross receipt (amount of commission) is to be filled in under the head , Total ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Taxable Value . - Reply By RAHUL GAIKWAD - The Reply = Thanks a lot - Reply By KASTURI SETHI - The Reply = SECTION 24. Compulsory registration in certain cases. - Notwithstanding anything contained in sub-section (1) of section 22 , the following categories of persons shall be required to be registered under this Act, - (vii) persons who make taxable supply of goods or services or both ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on behalf of other taxable persons whether as an agent or otherwise; - Reply By KASTURI SETHI - The Reply = Just for Additional Information 'Intermediary Services' are covered under Section 24 (vii) of CGST Act, 2017 . An agent, broker etc. plays the role of intermediary service. Hence compulsory registration without any threshold exemption. - INSURANCE AGENT CROSING 20 LAKH ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... - Query Started By: - RAHUL GAIKWAD Dated:- 13-5-2019 Goods and Services Tax - GST - Got 6 Replies - GST - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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