We are a Pvt limited Company, based in India (Indian Co.), which supplies Digital media content, electronically, directly to “You Tube”, on behalf of a US incorporated Company (US Company). You Tube pays directly to US Company for content sent by Indian Company. US Company transfers once in a month Amount in foreign currency to Indian Company . An invoice to the amount of funds transferred, is raised once in a month,by Indian Co on US Company. In 2016-17 the turnover of Indian company is Rs.400 lakhs plus. Under new GST regime, can we apply zero rate on exports and claim exemption? Do we need to submit Letter of undertaking, in this regard, in Form GST RFD-11.? Will Bond be required? Incidentally, majority shares in both the Companies are owned by a NRI. He is Director of both the Conpanies. Does that lead to any further issues?
CAclubindia
