VAT on soft toys selling

Sri Lankan company is planning to sell softtoys in India.Could I know the VAT implication on same.
Asked 3 months ago in VAT from Sri Lanka
Hi

GST will be applicable on such sale of soft toys.

For answering in detail, let us know the following

1. What would be your expected turnover
2. Will you be selling online
3. If offline, will it be a retail sale or you will be selling to otherhe dealers
Lakshita Bhandari
CA, Mumbai
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Now in India Vat replaced by GST 
thus now gst applicable and you have to appoint a person india and registered your self in India 

While import of toys  from Sri Lanka 
IGST is paid and after that on sale of toys GST(IGST / CGST +SGST)  levied and igst paid on import is adjustable against sale 
Lalit Bansal
CA, Delhi
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You have to take GST registration.

The rate if GST shall be 12%.

IGST shall be paid at the time of sales.

Also, IGST has to be paid when you transfer the goods to your agents. Later, on sale, credit of such IGST paid can be claimed.
Lakshita Bhandari
CA, Mumbai
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Yes you claim input of gst paid at time of import 
Lalit Bansal
CA, Delhi
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As on now below taxes are applicable 
On import 
Custom duty and GST 

on sales 
GST 
Lalit Bansal
CA, Delhi
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In addition to the GST, you shall be liable to pay custom duties as applicable at the time of imports into India.
Lakshita Bhandari
CA, Mumbai
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Hello,

GST shall be applicable to your company. You will also be required to deduct TDS on the amount of commission paid by you to your  agents. 

Is your company registered in India too.

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
Rohit R Sharma
CA, Mumbai
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HI,

I assume that you are not registered in India but for GST purposes you will have to appoint an agent in India to take care of your GST liability and discharge it to the Government. TDS will also be applicable if you are registered in India.

Regards,
Keerthiga Padmanabhan
M.Com., CA, LL.B
Keerthiga Padmanabhan
CA, Greater Mumbai
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