Tax implication on selling t-shirts out of India?
This query is : Open
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.
Please guide.
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.
Please guide.
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.
Other views are also welcome.
However the income from sale of such exports shall be chargeable to income tax.
Other views are also welcome.
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