TaxTMI 
TaxTMI 
Sir
Insurance commission received whether taxable under GST or not????
He is also doing sale of taxable supplies...
Insurance Commission Received whether taxable or not under GST?? He is also doing sale of taxable supplies.
18 Mar 2020 
4 Replies 
25773 Views Asked by
Insurance commission GST liability: generally taxable; insurer may discharge tax under reverse charge, commission counted in turnover.
Insurance commission received by agents is generally subject to GST, with certain insurance premiums exempt, and the commission forms part of the agent's turnover. Under Notification No. 13/2017 the insurance company must discharge GST on commission under the reverse charge mechanism, relieving the agent of remitting that tax, while a procedural question remains whether insurers can deduct GST from commission payments. (AI Summary)
Insurance commission received by agents is generally subject to GST, with certain insurance premiums exempt, and the commission forms part of the agent's turnover. Under Notification No. 13/2017 the insurance company must discharge GST on commission under the reverse charge mechanism, relieving the agent of remitting that tax, while a procedural question remains whether insurers can deduct GST from commission payments. (AI Summary)