GST compliance

Hi,

- Services provided by you are termed as export of services which is treated as zero rated supply.

- GST registration is mandatory if the gross receipts exceeds Rs.20 lacs annually.

Thanks

After taxable value, you can add GST column but on the face of the Invoice, mention Export Invoice. 

Hi,

Hope you are doing well !!

1.A business whose aggregate turnover/recipts in a financial year exceeds Rs 20 lakhs has to mandatorily register under Goods and Services Tax.

You will be required to get GST registration if the aggregate turnover exceeds the limit.

2.You services are classified under export of service.  

The provisions of IGST law, export of goods and/or services are to be treated as “zero rated supplies” and a registered taxable person exporting goods or services shall be eligible to claim refund under one of the following two options:

· Export under bond or letter of undertaking without payment of Integrated Tax and claim refund of unutilized input tax credit.

· Export on payment of Integrated Tax and claim refund of the tax so paid on goods and services exported. The aforesaid refunds will be subject to rules, safeguards and procedures as may be prescribed.

GST column is required after taxable value.

You can find the format online-GST Export Invoice Format.

Since your kind of services is covered under OIDAR service and since your customer are situated out of india it will be considered as export of service and therefore no GST is required till you cross 20 lakh turnover annually.

Even when you cross 20 lakh turnover you can get GST registration and apply for LUT and export service at 0% and you can have a column in your invoice for GST and mention at the top as export service.

If you need any further assistance you can call me.

Hope you find the information helpful if you do please rate it 5 and provide your valuable feedback for my improvement.

Thank you. 

Hello,

Your services would be termed as OIDAR services (Online information and database access or retrieval services) under GST. Since you will be providing these services outside India it would be Export Services, which are Zero rated under GST.

For compliance, you are required to get registered under GST if your receipts exceed Rs. 20 Lakhs in a financial year. You have two options, either, supply services under bond or Letter of Undertaking, subject to such conditions, without payment of integrated tax, and then claim a refund of unutilised input tax credit, or, supply services, after fulfilling certain conditions, and paying the IGST, can claim refund of such tax paid on the supplied services.

Regarding the GST column in the invoice, you can find the GST export invoice format online.

I hope this answer satisfies your requirement.

Regards,

CA Hunny Badlani

Hello Sir,

The nature of transaction shall be export of services.

For export of services, GST compliance shall be as follows:

- Registration under GST is a must once you cross the limit of 40 Lakhs turnover.

- Apply for letter of undertaking. 

- Once LUT submitted, File the GST returns with no payment for GST tax.

_ Must raise a GST compliant export invoice.

Let us know in case you need the export invoice format. Share your email id where we can send you the invoice format.

Thanks

Damini

Hi

You don't require a GST registration till your turnover exceeds INR 20 lacs. Such OIDAR services shall be considered as export of services when money is received in foreign exchange and hence zero rated supplies for GST purposes.

Once your turnover exceeds 20 lacs, register for GST and file a letter of undertaking following which exports can be done without payment of GST.

Once registration is done, though no GST liability arises but return filing shall have to be done.

Till you are not registered under GST, you need not include any column for GST. Post registration, it shall be included showing GST 0%.

GST column is required only after getting GST registration.

Hello Sir,

GST column is not required till you are not get GST registration.

Once you get the registration, you need to include GST column in invoice.