04 June 2018
Dear Members Please provide your comment weather the following transaction will be considered as export of service and consequently not chargeable to IGST - :
XYZ Foreign co. having share holder X,Y& Z incorporated a new company XYZ India in India. XYZ India has provide design & engeneering consultancy to XYZ foreign Co. for some of the projects undertaken by XYZ Foreign co. outside India. XYZ india raised a invoice of USD 100000/- to XYZ Foreign co. This amount is received in convertible foreign exchange within 1 month.
CAclubindia
