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India has been a major exporter to the rest of the world for a long time. India’s economy and GDP are growing faster because of new laws that make it easier to sell goods abroad. Also, if you want to start an export business in India, you can get a lot of help from the government once you’ve registered and licenced your business. Even if you are just exporting services, you will still need GST Registration because the Indian government has made it a requirement for exporting services.
What is GST and GST Registration?
GST means the tax on goods and services. It is how India taxes people indirectly. So, businesses that are eligible must sign up for GST, collect taxes from their customers, and send the money to the government.
So, GST Registration is the process for getting your business registered for GST. When you sign up for GST, you’ll get a unique GSTIN and other information that you’ll need for GST Return Filing.
All taxable people whose sales are more than Rs.20 Lakhs (or Rs.10 Lakhs in special cases) must register for GST.
But GST Registration is also required for exporting services in India, no matter how much money is being made.
Know about Export of Services under GST
The GST Regime says the following about exporting services:
The supplier is in India, and the person getting the service is outside of India.
The place where the service is being done is not in India.
Supplier of Service gets paid in Indian currency or a foreign currency that can be changed.
Explanation 1 of Section 8 says that neither the service provider nor the service user are the only businesses of a single person.
Is GST Registration Mandatory for Export of Services ?
Yes, you have to be registered for GST if you want to export services from India. A government FAQ from December 22, 2017 that was posted on Twitter says that export services are taxable interstate sales that need GST Registration.
Classification of Export of Service under GST Regime
Under Section 16 of the IGST Act, a “zero-rated supply” is a service or product that is sent overseas. So, it is not a group that is exempt. Zero-Rated Supply can also be used for services that are exported to Special Economic Zones.
Documents Necessary for Exporters to Claim a Refund
- Invoice Copy
- Copy of Document of Payment of Duty
- CA Certification that tax liability is not passed
- Other Document as per Government Requirement
Contact Us for GST Filing & GST Registration
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See GST Filing Packages on https://www.gstsuvidhakendras.org/gstmonthlyfiling/
See GST Registration Packages on https://www.gstsuvidhakendras.org/gst-registration-service/
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Tag : GST Filing, GST Registration, TDS Filing