Question ID :
40694
Providing Accountancy service to a Foreign Firm
An Individual is providing Accountancy Services to a Foreign Firm and receiving his remuneration in his Saving account. Whether he is required to inform any authority ? And whether it will come under Export of services. Further any GST Liability though Person is unregistered under GST.
Please provide necessary answers
Posted by
Mahesh Kumar
on
Jun 24, 2020
Filed Under
GST
A person dealing in intra-state supply of services is liable to be registered under the GST law. An intra-state supply includes export of services.
services provided outside India, consideration to be received in foreign currency and and place of supply outside india shall qualify as exports. Registration needs to obtained and GST returns are mandatory to be filed. An LUT needs to be obtained for supply of such services otherwise GST may be demanded on the entire consideration received.
It's better to comply and claim refund of ITC of inputs received for export of services. Hope this would help.
Further, there are benefits under the FTP Policy
Posted by
SACHIN AGARWAL on
Jun 26, 2020
Answer ID :
80586
intra-state to be read as inter-state supply
Posted by
SACHIN AGARWAL on
Jun 29, 2020
Answer ID :
80596
The registration would be mandatory if this is case of Inter State Supply. Whether this is inter state supply or need to be determined based on place of supply provisions. From the bare case presented, I feel this would inter state supply. Whether this qualifies as export of service or not need to be determined from export of service provision wherein one of the key condition is consideration to be received in foreign currency as mandated by RBI.
Posted by
Amith Kumar Khadloya on
Jul 04, 2020
Answer ID :
80644
less than Rs.20L no gst, even if interstate
Posted by
t sankar on
Jul 28, 2020