What income? Export of services.

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ACCOUNTANT
204 Points Joined August 2017
An assesee who got registration in india and paid gst for their business in india.He got the opportunity to act as broker or intermediary for the person who outside india to sell and buy some goods within outside india i. e without removal of goods from india, and for that he got amount or consideration from outside india. Now my query is under what income he will charge GST? Is GST applicable for this transaction?
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On 09 October 2024 at 07:15 Report
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Master in Accounts & high court Advocate
9505 Points Joined December 2011

The assessee's scenario involves facilitating sales and purchases of goods outside India, without removing goods from India, and receiving consideration from outside India. This is considered an export of services. GST applicability: - As per IGST Act, Section 3(1), supply of services is considered an export if the recipient is outside India. - As per IGST Act, Section 2(6), "export of services" means the supply of services which are consumed outside India. GST chargeability: - The assessee's service is an export of services, which is zero-rated under GST (IGST Act, Section 16). - No GST is payable on this transaction. However, the assessee may need to obtain a GST registration as an exporter of services and comply with related procedures.  - Ensure compliance with GST regulations and procedures

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On 09 October 2024 at 14:58
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2 Points Joined November 2024

In Scope of supply is as follows.Please give your valuable reply after looking our attached file.

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On 27 November 2024 at 14:53


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