Import of Software Service.
This query is : Resolved
08 October 2026
Dear Sir,
Please, let me know what is the Implication in Accounting entries to be done in case of Import of Software Service Imported.
Let me know how can account it & What Compliances required to Fulfil.
Thanks
Please, let me know what is the Implication in Accounting entries to be done in case of Import of Software Service Imported.
Let me know how can account it & What Compliances required to Fulfil.
Thanks
10 October 2026
To account for imported software services: GST Compliance: Pay 18% IGST under RCM in cash via GSTR-3B Table 3.1(d), issue a self-invoice, and claim the exact amount as ITC in Table 4(A)(2).Income Tax Compliance: Evaluate Section 195 for TDS applicability (applicable if customized/royalty; not applicable for standard SaaS) and file Form 15CA/15CB before foreign remittance.Accounting: Book the expense, debit Input IGST (RCM) against Output IGST (RCM Payable), pay the GST liability in cash, and set off the ITC.
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