TaxTMI 
TaxTMI 
Rate of service tax on insurance commission
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....ate of service tax on insurance commission<br> Query (Issue) Started By: - OM PRAKASH Dated:- 15-1-2009 Last Reply Date:- 4-2-2009 Service Tax<br>Got 2 Replies<br>Service Tax<br>Is an insurer correct....
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.... in deducting 6.18% service tax from insurance commission paid to its Agents. Reply By Surender Gupta: The Reply: Service Tax liability in case insurance commission is on insurance companies. Had it ....
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....been the liability of the agent, agent would have charged Rs. 100 + ST. But, now agent is charging only Rs. 100/-. Therefore, insurance companies should not deduct the amount of service tax from the c....
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....ommission payable to agents. But, it in this case provisions of service tax act would not help. But, the terms and conditions of mutual contract / agreement would prevail. Reply By Dinesh Kumar Agrawa....
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....l: The Reply: Service provided by agents to the Insuarnce companies are liable for service tax and for ease of collection, insurance companies are required to pay. Commission payable to agents are cum....
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.... ST and therefore deduction of ST by insurance companies is correct. Agents should request for hiking of their commission or should protest as ST paid by the insurance companies is available to the co....
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....mpanies as CENVAT credit on input service.<br> Discussion Forum - Knowledge Sharing ....