TaxTMI 
TaxTMI 
TaxTMI 
Commission received from Life Insurance Corporation Of India
X X X X Extracts X X X X
X X X X Extracts X X X X
....ommission received from Life Insurance Corporation Of India<br> Query (Issue) Started By: - MAHTAB KHAN Dated:- 18-6-2025 Last Reply Date:- 19-6-2025 Goods and Services Tax - GST<br>Got 2 Replies<br>G....
X X X X Extracts X X X X
X X X X Extracts X X X X
....ST<br>Whether the applicant, who is a registered dealer primarily engaged in the purchase and sale of capital goods and not providing any services as a regular business activity, is liable to pay GST ....
X X X X Extracts X X X X
X X X X Extracts X X X X
....on the commission income received from Life Insurance Corporation (LIC) of India, which has been duly recorded in the Profit & Loss Account as other income? Reply By Sadanand Bulbule: The Reply: In ....
X X X X Extracts X X X X
X X X X Extracts X X X X
....terms of Notification No. 13/2017-CTR dated 28/06/2017 vide Entry No.7, GST is payable by the Insurance Company under RCM on the services proivded by the insurance agent to it. So you need not pay GST....
X X X X Extracts X X X X
X X X X Extracts X X X X
.... on commission amount earned even if it exceeds Rs.20 Lakhs. Reply By Sooraj B: The Reply: To add on to what Sadanand Sir, has replied, services liable for RCM in the hands of the recipient shall be....
X X X X Extracts X X X X
X X X X Extracts X X X X
.... treated as exempted supplies for the purpose of Section 17(2) of the CGST/SGST Act; accordingly if any common ITC is availed, such ITC shall be reversed proportionately .in accordance with Rule 42/43....
X X X X Extracts X X X X
X X X X Extracts X X X X
.... of the CGST /SGST Rules .<br> Discussion Forum - Knowledge Sharing ....