Assuming the address of your clients are known. It is export of service. It's exempt but you can claim refund on the tax on input paid
Do I need GST?
Hello, I was opened a OPC company this April 17 2017, My services are providing signals to international clients,. Example - I will send forex market signal ( currency trading ) to clients. If my signal is positive then clients can pay me the 30% of what they get profit, for example if they get profit $1000 then they will pay me $300. So far my bank transactions are above 10 lakhs , So i need to know do i need GST ? How can i file the IT and when? I am newbie in TAX filed so i am not sure what exactly i have to do. Please advise . Regards, Vineeth
Asked 6 years ago in GST
So how much percentage is GST ?
Asked 6 years ago
Hi Vineeth,
Yes, you will need to get registered under GST and pay 18% GST.
Please feel free to call/ revert in case you need more clarity.
Hii
yes GST is applicable in your transaction coz its export of service , you have to pay gst @18% as commission agent and calim refund of the same after processing of your gst return, i means to say export is zero rated but first you have to pay gst then claim for refund.
Do i have to change GST from my clients ?
Asked 6 years ago
Do you receive money in foreign currency or indian ruppee
Hi Vineeth
Your services shall be classified under export of services.
IGST @ 18% shall be applicable.
You became liable to GST registration when you had done the first transaction in the month of July.
I assume that you receive money in foreign currency.
IT returns shall be filed during May-Sept 2018 for the year starting on 1st April 2017.
Let me know if any services regarding GST/IT are required.
1 on your commission part you have to charge GST from clients
2 on sales consideration you have to Deduct GST as TCS
Yes, you need to charge.
Please feel free to call/ revert in case you need more clarity.
Hello,
Yes you will have to get yourself registered under GST and apply for a Bond/ LUT which will allow you to export your services without charging or paying any GST.
Trust this clarifies your query.
Feel free to call / get back in case of further clarifications.
Thanking You.
Regards,
Rohit R Sharma
BCOM, FCA, LLB, CERT. FAFP
Hi,
Since you are exporting services, you will be required to be registered under GST.
In case you do not apply for Bond/ LTU then the rate of tax shall be 18%.
Regards,
Keerthiga Padmanabhan
M.Com., CA, LL.B
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