GSTR-1 Insurance Agent Zero Rated Supply

[RAHUL GAIKWAD]

I am filing GSTR-3B of Insurance Agent client in Colum B of GSTR-3B 3.1

I want to file GSTR-1 for same client. In which section Supply should to fill/?

[Nitesh Jain]

In case of Insurance Agent, Taxable value requied to be reported in RoW A of GSTR-3B where Tax amount would be Zero.

And for GSTR-1, the same would be reported as B2B Transaction liable for reverse charge by the recepient.

AI Summary

Reverse charge reporting: Insurance agent supplies reported as B2B in returns and disclosed with zero tax liability. Taxable value of insurance agent zero-rated supplies should be entered in the outward supplies section of the return with tax shown as nil, and in the periodic invoice-level return such supplies must be reported as B2B transactions subject to reverse charge by the recipient.