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APPLICABILITY OF INSURANCE AGENT IN GST REGIME
One of my client is an insurance agent and receiving 30L as insurance commission, Insurance Company is insisting him for GST registration and pay the tax. But, as per the notification 13/2017 of GST act, Insurance company is liable to pay GST on behalf of the agent under RCM. If so, for this insurance agent, is it necessary to take GST registration and how to file his return?

By: SUBRAMANYA G HEGDE
Dear Sir,

This service is in compulsory reverse charge category, so insurance agent is not liable to get himself registered in GST. Insurance Company is only liable to pay GST under reverse charge.

Please feel free to revert for any further clarification.

CA. Mohit Jain
M - 9582757578

By: TAXREPLY.COM
No, Insurance agent is not liable to get registration in GST.

By: VISHAL
One of my client is an insurance agent and receiving 3Cr as insurance commission, Insurance Company is insisting him for GST registration and pay the tax. But, as per the notification 13/2017 of GST act, Insurance company is liable to pay GST on behalf of the agent under RCM. If so, for this insurance agent, is it necessary to take GST registration and how to file his return?


By: MANIMEGALAI
One of my client is an insurance agent and receiving 3Cr as insurance commission, Insurance Company is insisting him for GST registration and pay the tax. But, as per the notification 13/2017 of GST act, Insurance company is liable to pay GST on behalf of the agent under RCM. If so, for this insurance agent, is it necessary to take GST registration and how to file his return?


By: MANIMEGALAI
One of my client is an insurance agent and receiving 3Cr as insurance commission, Insurance Company is insisting him for GST registration and pay the tax. But, as per the notification 13/2017 of GST act, Insurance company is liable to pay GST on behalf of the agent under RCM. already registered GST how can file gstr1



By: MANIMEGALAI
Sir,
I am an PSU general insurance Agent.
Occassionally insured person do send the insurance premium directly to my bank account. The same amount will be paid to the insurance company through NET BANKING to the insurance company for policy generation.

In these cases, what would be the complications in these transactions.
Requested to provide your suggestions/ informations.

By: D V PUSHPALATHA



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25 Apr

☑ Half-Yearly | ITC-04

ITC-04 for the half year (Oct - Mar 2024) (For taxpayers > 5 Cr. Turnover) - Rule 45.

☑ Annual | ITC-04

ITC-04 for the FY 2023-24 (For taxpayers upto 5 Cr. Turnover) - Rule 45.

28 Apr

☑ Monthly | GSTR-11

GSTR-11 for the m/o Mar 2024 (Statement of inward supplies by persons having Unique Identification Number (UIN)).

30 Apr

☑ Annual | GSTR-4

GSTR-4 (Annual Return) for FY 2023-24 by Composite Taxpayer (Rule 62).

☑ Quarterly | QRMP

Last date for opt-in / opt-out QRMP Scheme for quarter Apr - June 2024 (Rule 61A)