Foreign Inward Remittance Certificate – GST is applicable or not
Query (Issue) Started By: – RAMAKRISHNA M Dated:- 20-1-2018 Last Reply Date:- 21-10-2018 Goods and Services Tax – GST
Got 10 Replies
GST
Evening All,
I need to under whether GST will attract for "Foreign Inward Remittance Certificate" because if we get Sales commission for Imported Products in India, Banks will issue FIRC.
While raising Invoice to Foreign customers we cannot add GST in that invoice.
Please clarify.
regards,
Ramakrishna M
Reply By KASTURI SETHI:
The Reply:
GST is applicable.
Reply By Kishan Barai:
The Reply:
A Foreign Inward Remittance Certificate (FIRC) is a document that acts as a testimonial for all inward remittances and pay
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ble foreign currency the service is provided by you within the taxable territory, that is India. Therefore you have to pay the gist on the commission earned. The same cannot be passed on to your foreign customer since you are the service provider and you are liable to pay the gst and your foreign customer is in no way concerned with that.
Reply By KASTURI SETHI:
The Reply:
In addition to above, it is further opined that mere receipt of foreign exchange does not qualify for export.
Reply By RAMAKRISHNA M:
The Reply:
Dear All,
Thanks for your opinions.
Once again brief this Business Flow for complete clarity and request your suggestions for the same.
We are Commission Agents for Italian Machinery suppliers.
Once Machinery is Purchas
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