30 June 2011
One of my clients has newly started business of selling t-shirts online.
His supplier is supplying him with printed t-shirts that he sells to customers.
I wanted to know that when he sells t-shirt outside of India, what would be the whole process of doing so and what would be the tax implications?
I have come to know that since it is export, it would not be taxable and I can even claim refund of the tax paid on purchase of those t-shirts that I am exporting.
01 July 2011
I believe in case of export normally an Assessee will be eligible to claim vat/cst paid on his purchases. However the income from sale of such exports shall be chargeable to income tax.
CAclubindia
