Case. One person from India provided Consultancy service to Singapore base company. Amount received in USD.
1. Whether such Service will be considered as export service? 2. If yes, client should obtain import export code?
Replies (6)
Quick Summary
This discussion clarifies whether consultancy services provided by an Indian individual to a Singapore-based company, paid in USD, qualify as an export of service for GST purposes. Key considerations include the nature of the consultancy, place of supply rules, and requirements like obtaining an Import Export Code (IEC) and applying for Letter of Undertaking (LUT) to potentially avoid paying GST upfront.
To be termed as export of service there are several other conditions. LUT need to be applied for without pay of taxes. IEC need to be obtained from DGFT. Do follow @ gstgist on Instagram for regular GST updates and amendments.
1. service provider - located India 2. service recipient - located Singapore 3. Amount received in USD 4. both are distinct person 5. service in the nature of consultanty