I have a company that provides Software maintenance services to clients in US. This is considered as a zero rated service. Since the revenue last year was less than 20 lakhs and this year so far is less than 20 lakhs I did not take the GST number yet. However, the revenue is now almost at 20 lakhs and will cross so far so my questions are: 1. Do I take GST number now? 2. As I provide zero rated service so no GST applicability, should I pay IGST starting once we cross 20 lakhs and then take refund? Any guidance would be helpful.
You have to registered under GST irrespective of Turnover in the case of export, in this you have 2 options
1 pay IGST and claim for refund
2 File LUT and export without payment of IGST
in both cases you can claim input tax and adjust /claim refund for the same
Hi
As per the new amendments in the law, right now, you are not required to take GST registration. However, you should take GST registration within 30 days of the day when the turnover exceeds 20 lakhs.
After GST registration, you can either pay IGST or export under LuT.
Hello,
1. Yes, do register urself under GST.
2. Yes either you pay and take a refund or you apply for a Bond.
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,
1. Yes, you should take GST registration.
2. Once you take GST registration, you have tow options a. Pay GST and claim refund or b. Give bond or letter of undertaking to the department and don't pay GST at all
Please feel free to call revert in case you need more clarity
Thanks and regards
Abhishek Dugar
CA CS B.Com
Hi,
1. Yes, you will have get registered under GST now.
2. You may either pay and claim a refund, or apply for a bond.
Regards,
Keerthiga Padmanabhan
M.Com., CA, LL.B
