Hi,
I am a software freelancer working exclusively with foreign clients (aka, export of services). In FY18-19, I had income exceeding Rs. 20 lakhs. As mentioned, the income is solely from export of services.
1) Am I liable to register for GST?
2) Do I need to make regular filings?
3) Is all my income (export of services) zero-rated?
Thank for taking the time to answer my queries.
1) Registration is compulsory under GST because export is treated as interstate supply and as per section 24(1) of the CGST act 2017 registration is compulsory for inter-state supply if turnover exceeds 20 lac.
2) You have file returns regularly
3) Export of service is ZERO rated under GST as per section 16(1) (a) of the IGST act 2017 ,however you have to pay IGST and then claim for refund or you can submit LUT / BOND subject to conditions
please confirm with others also.
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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Naveen Fintech Pvt Ltd
Kolkata
CA Inter
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CAclubindia
