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,
\nI 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.
\nWhile raising Invoice to Foreign customers we cannot add GST in that invoice.
\nPlease clarify.
\nregards,
\nRamakrishna M
\nReply By KASTURI SETHI:
\nThe Reply:
\nGST is applicable.
\nReply By Kishan Barai:
\nThe Reply:
\nA Foreign Inward Remittance Certificate (FIRC) is a document that acts as a testimonial for all inward remittances and pay<\/p>\n
= = = = = = = =<\/p>\n
Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n 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. = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n","protected":false},"excerpt":{"rendered":" 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 – GSTGot 10 RepliesGSTEvening All, I need to under whether GST will attract for "Foreign Inward Remittance Certificate" because if we get Sales commission for Imported Products in … Continue reading “Foreign Inward Remittance Certificate – GST is applicable or not”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-10020","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/10020","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=10020"}],"version-history":[{"count":0,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/10020\/revisions"}],"wp:attachment":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=10020"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=10020"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=10020"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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\nReply By KASTURI SETHI:
\nThe Reply:
\nIn addition to above, it is further opined that mere receipt of foreign exchange does not qualify for export.
\nReply By RAMAKRISHNA M:
\nThe Reply:
\nDear All,
\nThanks for your opinions.
\nOnce again brief this Business Flow for complete clarity and request your suggestions for the same.
\nWe are Commission Agents for Italian Machinery suppliers.
\nOnce Machinery is Purchas<\/p>\n
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