INSURANCE AGENT CROSING 20 LAKH

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....NSURANCE AGENT CROSING 20 LAKH<br> Query (Issue) Started By: - RAHUL GAIKWAD Dated:- 13-5-2019 Last Reply Date:- 14-5-2019 Goods and Services Tax - GST<br>Got 6 Replies<br>GST<br>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 attract....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....s 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 28.6.17 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....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... 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 , &quot;Total Taxable Value&quot;. Reply By RAHUL GAIKWAD: The Reply: Thanks a lot Reply By KASTURI SETHI: The Reply: SECTION 24.&emsp;Compulsory registration in certain cases. - Notwithstanding anything contained in sub-section (1) of section ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....22, the following categories of persons shall be required to be registered under this Act, - (vii)&emsp;persons who make taxable supply of goods or services or both on behalf of other taxable persons whether as an agent or otherwise; Reply By KASTURI SETHI: The Reply: Just for Additional Information &#39;Intermediary Services&#39; are covered under Section 24 (vii) of CGST Act, 2017. An agent,....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... broker etc. plays the role of intermediary service. Hence compulsory registration without any threshold exemption.<br> Discussion Forum - Knowledge Sharing ....