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Implications of Service Fee received in Tether (USDt) from foreign Client.

This query is : Resolved 

Please guide me regarding Tax implications of Service Fee received by a IT service provider to a foreign client as service fess received in Tether (USDt) via wazirX.

It will fall under export of service exempt from GST on registration under GST and furnishing letter of undertaking in GST portal.
Income tax applicable including the income with local income.

Do I have to report it as foreign exchange earning in Balance Sheet & Directors Report. Also is their any special compliance as the payment is being done in Crypto i.e Tether (USDt).

Yes, report it as foreign currency earning.

Thankx for your guidance.



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