Hello All, Please can someone clarify on the following scenario, which is purely an example.
I am a Wholly Owned Indian Subsidiary of a Foreign Registered Company. I am a Development Center and provide services for my Foreign Holding Company who in turn settles my expenses based on inter company invoices generated by myself. I do not submit any claim for Export Incentives etc. The Holding Company remits money in foreign currency via an Exchange House, so my Banker receives money in Indian Rupees and there is foreign currency conversion and exchange rate applied on the FIRC document.
Based on the above information can I submit a GST Refund application. Or will the application be rejected.
Please can someone confirm.
Regards
Ganesh Aiyar
CAclubindia
