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GSTR 1 For freelancer income

11 December 2024

I work as a software developer on a contract basis with a foreign company and they send me monthly payment using wire transfer to my bank account and i got recently gst registered so for the month of novemeber i got registration done on 24 nov, and my invoice got raised on 29 nov. So i filled for GSTR1 today with these details

Already verfieid and filed

Just wanted to know if everything is correct in here and do i need to do any other steps after this ?

Also there was no option to upload my invoice in here .. is it needed to be uploaded or not ?

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3 Replies

Rama chary Rachakonda (Master in Accounts & Lawyer email ID:ramachary64@gmail.com voice no:9989324294) (6062 Points)
Replied 11 December 2024

GST Compliance Registration and Invoicing - You obtained GST registration on November 24, which is correct. -

You raised an invoice on November 29, which is also correct.

GSTR-1 Filing - You filed GSTR-1 with the correct details, including the invoice date and amount.

GST Implications - As a software developer providing services to a foreign company, you are liable to pay GST on your services.

- Since your services are exported, you may be eligible for a refund of the GST paid.

Additional Considerations

1. _Obtain a Letter of Undertaking (LUT)_: As an exporter, you may need to obtain a LUT to export services without paying GST.

2. _Claim GST refund_: Claim a refund of the GST paid on your exported services.

3. _Maintain proper documentation_: Maintain proper documentation, including invoices, payment receipts, and GST returns, to support your GST refund claim. Recommendation 1. Consult a tax professional to ensure compliance with GST regulations and to guide you through the GST refund process. 2. Verify the GST implications for your specific situation, as GST regulations can be complex and subject to change.

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Apkbox In (9 Points)
Replied 11 December 2024

Hey , thanks for the reply .. also i attached my invoice's screenshot in this thread , i already filled for LUT and included the LUT number in the invoice so that's why including all the income in 0% tax bracket as export of service is at 0% .. correct ?

Money Money (427 Points)
Replied 12 December 2024

Yes, you’re correct! Since you’ve filed a Letter of Undertaking (LUT) and included the LUT number in your invoices, your export of services can be considered under the 0% tax bracket. This means you don’t need to charge GST on these export services, as they are treated as zero-rated supplies under GST.