No GST is applicable on contribution received upto INR 7,500 and in case of contribution received in excess of INR 7,500, GST would levy only on additional amount.
The applicant is not required to pay GST on RCM basis under section 5(3) of the IGST Act, 2017 on commission paid to the “Overseas Commission Agent:.
One of the special modes of carrying out international business is a ¨ Turnkey Project exports ¨. Generally, projects that involve rendering of services like designing, civil construction and erection and commissioning of plants/factories along with supply of machinery, equipment and materials are known as turnkey projects. In this article you can find various essential provisions related to Turnkey project exports.
Considering the representation, CBEC has clarified various refund related issued vide Circular No. 147/03//2021-GST dated 12th March, 2020 where following issues are clarified:
1. Issue with respect to transmission of data to IEC Gateway in case of IGST refund from customs Under Goods and Service Tax, information related to exports are furnished at following two places: Summary information is given in Table 3.1(b) of GSTR-3B where details are given of Value of Export and Amount of IGST paid on such export. Invoice wise details of export invoices are furnished in Table No. 6A of GSTR-1 wherein information is provided of Shipping Bill Number, Shipping Bill date, Port code, value of goods exported, taxes paid on such export etc. Data furnished in Table-6A are
The NATIONAL ANTI-PROFITEERING AUTHORITY ruled that profiteering should be determined at the point in time and not at the completion of the project. As the developer had availed ITC during the project tenure, the developer was liable to pass on the benefits of lower GST rate to home buyers by way of commensurate price reduction.
Leave your Name, email, Phone number along with what you are looking for in message box or you can call us at 011-41715118
We are a firm of Chartered Accountants offering wide range of professional services under one roof.
Being member of EAI International, we have the capabilities to work and service our clients internationally.
405-406, 4th Floor, Raja House, Nehru Place, New Delhi – 110019
011-41715118-19
info@vjmglobal.com
+91 9891576441, 9213397070, 9911887030
Mon – Fri: 09:00am – 06:00pm
Closed on Weekends
Copyright © 2014-2021 | All Right Reserved | VJM & Associates LLP
V J M & Associates LLP
