One of my client is into Art business in India and is registered under GST has sold his painting abroad and received the amount in India after conversion of currency in Indian rupees.
I want to know what is the impact of GST on International trade and do he has to pay GST on the amount received from abroad.
Also incase of Income tax, is there any seperate calculation he has to do or this sale will be clubbed with his domestic sales.
01 July 2022
Furnish letter of undertaking in GST portal . Such exports are zero rated exports GST not applicable. This sale will be clubbed with domestic sale relief can be claimed on any tax paid outside India.
CAclubindia
