Gst
This query is : Open
Querist : Anonymous
Querist :
Anonymous
(Querist)
01 August 2017
1. We have imported RM, Custom department is charges IGST on conversion of USD @ 65.50 but RBI rate shows 64.13 , what will be the conversion rate for CIF & FOB in GST
2.We have received one order from foreign party for import of RM and to supply local in that case we will billed to foreign party in USD, place of supply india local party what should be tax IGST, OR SGS T,CGST and can we set off that liability.
3. Any advance received from foreign party do we have to pay IGST
2.We have received one order from foreign party for import of RM and to supply local in that case we will billed to foreign party in USD, place of supply india local party what should be tax IGST, OR SGS T,CGST and can we set off that liability.
3. Any advance received from foreign party do we have to pay IGST
02 August 2017
Q1- not able to understand properly but you need to considered RBI rate
Q2- It would not qualify as exports and hence you are liable to IGST
Q2- It would not qualify as exports and hence you are liable to IGST
Querist : Anonymous
Querist :
Anonymous
(Querist)
03 August 2017
thanks sir, Point no-2 Place of supply local, Receiver third party also local but payment received from foreign party
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