24 November 2022
All the suggested process are done except GST registration. so is it possible to make payments without GSTIN number? Thank you for your reply.
24 November 2022
Verbal contract will not hold its authenticity. Any contract in writing will hold good. In that case Indian company will require to pay taxes at the time of its service output. Meanwhile, if any payments made to contractors or other service providers, TDS liability will arise.
24 November 2022
Tax liability arises for any supply of goods or services. If Indian company supplies service to Foreign company, tax liability will arise on Indian company. TDS liability arises as an when any payment given to suppliers of goods or services. e.g. if Indian company hires contractor or professionals or pay salary etc. TDS liability will arise over it.
24 November 2022
If Indian company is receiving any services from Foreign company, while making payment to that company TDS u/s. 195 of IT act will be applicable.