Can someone share the laws regarding GST on export of Software services. I have different versions stating that GST @18% needs to be charged first and then refunded or GST need not be charged on export services If somebody knows the rules, please help more
Every one above 20 lakhs is in GST - whether local or export so only 3 options as suggested bye few people 1. pay iGST at 18% and claim refund or 2. LUT if TO more than 1CR 3. Bond with BG. Any suggestion other than this is wrong interpretation. Regardss more
Thanks everyone for your responses. I am still a little confused regarding the procedure, but let me clear my situation. I am in the business of software development domestic and export and am registered with GST. During service tax regime, i did not charge service tax on export invoices. So if i wish to bill the customer 1000 USD, i would simple generate invoice for 1000 usd without any taxes. Under gst rule, it seems that the option for bond is available only for business with turnover above 1CR. since my turnover is less than 1 Cr, i cannot avail the option so i am left with only 1 option to apply tax and then claim a refund, so if i understand correctly, i will first raise invoice for 1000 USD + 180 USD (IGST) to the customer. Customer shall pay me only 1000 USD and i will deposit 180 USD equivalent in INR out of my pocket and then claim refund of 180 USD. Please help me understand if this is the way exports have to be managed in GST more
If your turnover below 20 lakh not dealing the item not covering under preview of GST.... U need not take to take GST. Regn.but it is your responsibility to prove the tour over is below the taxable limit.. more
My cousin’s friend runs a local bakery in Goa. He accepts only CASH. No UPI/CC/Debit Card-- nothing! Logic: if he accepts anything in 'white', he will pay around...
Interesting how poor people and commoners pay GST on pretty much everything they buy from biscuits to namkeen, milk to grocery And rich buys iPhone, Luxury Cars, etc as Business Expenses...
Cut & polished diamonds are charged 1.5% GST. Flour & curd are charged 5% GST. Diamond walas can fund politics but aate dahi doodh walas can’t?? Plea...
The GST Council has recommended 5% GST on dairy items like pre- packed, pre-labeled curd, lassi and butter milk and increasing GST on dairy machinery and milking machines from 12% to 18%. This move...
Bicycle will attract a GST rate of 12%, but diamonds will attract only 0.25%. At a time when people aren't able to afford petrol & the poor are forced to commute on cycles, the govt charges 12%...
The Private tutors and coaching classes runners should be registered by the local authorities like Panchayats, municipalities and metros through simple forms with names, addresses of operators, the...
Rs6.14 lakh crore as input tax credit (ITC) remains blocked under Rule 86A by the tax authorities without any due process being followed. Attached is data by state. Can LocalCircles take up this is...
Dear All, I live in an affordable housing society under PMAY in Gurgaon for the past two years. Maintenance is supposed to be free for five years. Builder has increased CAM charges twic...
The leaders of the Govt, the babus of the Govt are very clueless LocalCircles and we have not done enough to wake up these people. Read below: 5% GST on COVID vaccine. 28% GST...
What's the most taxed product in India? It's not cigarettes, a can of aerated beverage or a bottle of whisky or beer. It's an AUTOMOBILE. It attracts the highest GST rate of 28% & a cess o...
By Sunita Varghese
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