commission received from oriental insurance co ltd

[satbir singhwahi]

Commission is received from Oriental Insurance co ltd for General Insurance business. Whether service tax liability is on oriental Insurance co Ltd or the person receiving commission.

AI Summary

Service Tax on Insurance Commissions: Liability Falls on Insurance Company, Not Agent, Per Notification No. 30/2012. /2012 A query was raised regarding the liability for service tax on commissions received from Oriental Insurance Co. Ltd. for general insurance business. The question was whether the service tax responsibility falls on the insurance company or the individual receiving the commission. The response clarified that, according to Notification No. 30/2012, the service tax is the liability of the insurance company, not the insurance agent.