GST on Consulting

Others 149 views 6 replies

Venkatraman

Finance Controller

44 Points Joined February 2020

Hello All,

I am an Individual residing in Mumbai, India and providing Consulting Service to a Company registered outside India in the area of Sales and Marketing. I raise and submit my Invoice in US Dollars and the same is settled by the Company via Transferwise/NIUM and so my account is credited with INR.

Since my services are Export in nature + Services are supplied to a Foreign Entity + value of services will not exceed the limit of INR 20L per annum my question is - (a) Do I need to get myself GST registered? (b) Are my Exports Exempt / Zero Rated?

Appreciate if you could clarify.

Regards

Replies (6)

Rama chary Rachakonda

Master in Accounts & high court Advocate

9111 Points Joined December 2011

The export of goods or services is considered as a zero-rated supply. GST will not be levied on export of any kind of goods or services. A duty drawback was provided under the previous laws for the tax paid on inputs for the export of exempted goods.

CA Altamush Zafar

GST Consultant

15986 Points Joined March 2013

No need to take registration....

Venkatraman

Finance Controller

44 Points Joined February 2020

Thank you all for your response.

debora M

BUSINESS DEVELOPMENT MANAGER

1697 Points Joined February 2019

GST rate on consultancy services : Consultancy services attracts 18% of GST Rate. Consultancy can be of any nature related to healthcare, finance, investments etc. Though there are five slab rates, but consultancy services falls under 18% slab only.

Venkatraman

Finance Controller

44 Points Joined February 2020

Hello Debora M,

Thank you for your reply. I agree the GST rate for Consultancy is 18%, but as i mentioned in my question the consultancy is provided to a Company Registered outside India. So in this case GST would be Zero Rated. Thank you

Santhosh Kumara

3 Points Joined October 2021

Sir i have apply new GST Registration deportment asking query is (Business Details - Details of your Business - Others (Please specify) - Please Specify - please upload declaration (on the letterhead of applicant company) in terms of Rule 18(1) / 18(2) - Display of name board / registration certificate ; Rule 56 - maintenance of registers and records, as required under CGST Rules, 2017.) what documents upload and submit plz tell me Sir.