Import of service

Import of service; POS rules play important role to decide the nature of supply.
Import of service shall mean supply of any service where:

– Supplier of service is located outside India;

– Recipient of service is located in India; and

– Place of supply of service is in India.

Service by NRTP
Occasional undertakes transactions involving supply of goods or services but has no fixed place of business residence in India.Do not have a PAN Number.NRTP must identify a person in India to act as its authorised representative for GST compliance and obtain PAN in India for the foreign entity (optional). As per GST rules, the application for GST registration made by a non-resident taxable person should be signed by his authorized signatory who shall be a person resident in India having a valid PAN.
For example the company Marc Inc. based out of USA is manufacturing special class turbojet engines which are supplied to India for assembling. This is a one-time transaction for Marc Inc. and thus they have appointed an Agent Mr. Vinod in India to carry out all compliance related formalities. Mr. Vinod, in turn, is required to obtain registration for Marc Inc. by furnishing his own PAN number and pay advance taxes related to this transaction. Once the transaction is carried out successfully and the supply is made, Marc Inc. will need to file their GST returns and meet all GST liability from the advance tax paid at the time of registration. Any tax paid in excess will be refunded through the electronic mode.

Well explained CA Sunil sir..........