Amish Maknojia (Student) 28 September 2020
Mr.A staying in India has a business in which product is manufactured outside India and Sold outside India, but payment for purchase and receipts for sales are done by him from India, turnover is more than 5crores, is GST registration applicable?
prasad Nilugal (Sr . Accountant and GST Practitioner . ) 28 September 2020
As per schedule III (7) CGST amendment act 2018 Supply of Goods form non taxable territory to another non taxable territory is nether supply of Goods nor services . so in my opinion its non GST supply .
please confirm with others also.
Pankaj Rawat (GST Practitioner) 29 September 2020
You are doing merchant Trading.
Merchant Trading means supply of Goods from non-taxable territory to another place in the Non-taxable territory without such goods entering into the Taxable Territory.
As per Amendment Act 31 ,2018 , the merchant export has been included under schedule III ie Activities which treated as neither supply of goods nor supply services.
Hence No GST Applicable.
Note : effective from 1/2/2019