Do i need to have GST number ? I dont understand

Yes  , registration is required  because  turnover  is  more  than  20 Lac . After  registration  You need to  charge  GST  to  Indian   client  in Invoice and  although  Export  is ZERO  rated supply  you have  pay IGST  first  and then you can claim  refund or  you can submit  LUT   subject  to conditions  for  export  without  IGST  . 

Income  Tax  payable  by your company ( whatever rate applicable )   , GST  payable  by your customer to your  company  and same  you have to deposit  in GOVT  account . 

U would b taking goods or services to deliver ur service say IT components in ur case u may take the input tax credit of gst charged over it and settle the same towards the tax collected from recipient of ur service.

Gst is an indirect tax the burden of tax falls on consumer not u. So u will not b paying a single a penny from ur pocket unless u consume any goods or services that are not supplied further.

Income tax is a tax on ur income not on ur turnover u may even have losses even after having a huge turnover. However  income tax is required to b paid on the income earned by you in India. It is just like a service charge by govt for using their land to earn ur revenue.

Benifits u get:

Credibility in banks and FI

U can claim tax credit of gst on inputs (basically now u will collect tax and pay only if u have too much value addition)

U may also claim refund for export of service.

Hire a tax consultant who may help u with all these issues. Have a professional to work with such stuff otherwise non- compliance of these laws may become a bubble trouble.....

Thank you sir for your help, i am new to this thing and totally confused

Originally posted by : prasad Nilugal
	Yes  , registration is required  because  turnover  is  more  than  20 Lac . After  registration  You need to  charge  GST  to  Indian   client  in Invoice and  although  Export  is ZERO  rated supply  you have  pay IGST  first  and then you can claim  refund or  you can submit  LUT   subject  to conditions  for  export  without  IGST  .  Income  Tax  payable  by your company ( whatever rate applicable )   , GST  payable  by your customer to your  company  and same  you have to deposit  in GOVT  account .

Okay so I need to charge 18% extra to my clients as well, that is where the problem lies in our service industry the prices are already so much cut throat, thanks 

Originally posted by : Heet Shah
	Benifits u get: Credibility in banks and FI U can claim tax credit of gst on inputs (basically now u will collect tax and pay only if u have too much value addition) U may also claim refund for export of service.

Thanks Sir

Originally posted by : Subhadeep G.
	Originally posted by : prasad Nilugal Yes  , registration is required  because  turnover  is  more  than  20 Lac . After  registration  You need to  charge  GST  to  Indian   client  in Invoice and  although  Export  is ZERO  rated supply  you have  pay IGST  first  and then you can claim  refund or  you can submit  LUT   subject  to conditions  for  export  without  IGST  .  Income  Tax  payable  by your company ( whatever rate applicable )   , GST  payable  by your customer to your  company  and same  you have to deposit  in GOVT  account .  Okay so I need to charge 18% extra to my clients as well, that is where the problem lies in our service industry the prices are already so much cut throat, thanks

True but if client belongs from organised sector it shouldn't be such an issue. 

However incase of services to direct consumers  these happens to be bittersome but it gives u a credibility that u you too have your role in national revenue....!!! Loyalty towards nation by paying taxes....honest taxpayer .....all that stuff may help