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(Guest)

GST on foreign income -- what is taxable value ?

Paypal is the most easy way

https://todosdisplays.com/product/acrylic-food-box/



 15 Replies

CA Altamush Zafar

CA Altamush Zafar (GST Consultant)     13 June 2021

Yes include inr and tax paid on gross.
Christine Diaz

Christine Diaz   13 June 2021

Originally posted by : CA Altamush Zafar
Yes include inr and tax paid on gross.

Thanks sir :)

1. I can indicate inr value sir. But how about inr value after deducting paypal transfer fees.  How can i include that in invoice ? I can only know the transfer fee after receipt of payment ,

2.  I will be filing LUT , and going for zero rated GST. So, should i include gst rate and gst amount on the invoice.

3. Should invoice include the terms " supply for export under LUT without payment of igst " ?

 

Thanks Alttamush sir  :)


Attached File : 3399207 20210613165026 1 receipt.xlsx downloaded: 10 times
CA Altamush Zafar

CA Altamush Zafar (GST Consultant)     13 June 2021

1) Invoice on gross amount without paypal

2)If lut then no need to mention gst

3)Yes you will have to mention.

It is suggested that since you are starting a new business with export of services you engage a professional. You will need one.

Christine Diaz

Christine Diaz   13 June 2021

Originally posted by : CA Altamush Zafar
1) Invoice on gross amount without paypal

2)If lut then no need to mention gst

3)Yes you will have to mention.

It is suggested that since you are starting a new business with export of services you engage a professional. You will need one.

Thanks sir  :) I have a professional. She gets exhausted answering all my beginner qs. So i get some help from this awesome forum and all the awesome CAs here :) She is great, too .

1. So, i guess receipt should contain paypal transfer fees. And also the net, after that fees.

2. So , while computing gross profit, will paypal transfer fees will be considered expense ?

Thanks sir :)

CA Altamush Zafar

CA Altamush Zafar (GST Consultant)     13 June 2021

Yes it will be an expense.

Christine Diaz

Christine Diaz   13 June 2021

Originally posted by : CA Altamush Zafar
Yes it will be an expense.

Thanks sir :)

Is electronic signature mandatory in gst invoice ?

CA Altamush Zafar

CA Altamush Zafar (GST Consultant)     13 June 2021

Signature is mandatory either manual or digital.

If provisions of Information technology act is followed then signature is exempt.

Christine Diaz

Christine Diaz   13 June 2021

Originally posted by : CA Altamush Zafar
Signature is mandatory either manual or digital.

If provisions of Information technology act is followed then signature is exempt.

Thanks sir :) In excel, can i just import my signature photo, and insert it into excel doc ?

CA Altamush Zafar

CA Altamush Zafar (GST Consultant)     13 June 2021

Yes you can do that too

Christine Diaz

Christine Diaz   15 June 2021

Originally posted by : CA Altamush Zafar
Yes you can do that too

Should i include SAC in the invoice  ? I will be including  " supply meant for export under LUT without payment of IGST"

Thanks sir :)

CA Altamush Zafar

CA Altamush Zafar (GST Consultant)     15 June 2021

Yes 

Show SAC in invoice

Christine Diaz

Christine Diaz   15 June 2021

Originally posted by : CA Altamush Zafar
Yes 

Show SAC in invoice

Thanks Altamush sir. You have helped me so much past few days.

Should i go for paypal or international bank wire ? Bank wire is cheap but not very safe. Paypal is large fees but 100 percent safe.

I will be receiving more than 50k usd per year.

Thanks sir :)

Christine Diaz

Christine Diaz   15 June 2021

Originally posted by : CA Altamush Zafar
Yes 

Show SAC in invoice

Thanks Altamush sir. You have helped me so much past few days.

Should i go for paypal or international bank wire ? Bank wire is cheap but not very safe. Paypal is large fees but 100 percent safe.

I will be receiving more than 50k usd per year.

Thanks sir :)


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