Can i Claim
Query (Issue) Started By: – Harish GV Dated:- 17-8-2018 Last Reply Date:- 20-8-2018 Goods and Services Tax – GST
Got 5 Replies
GST
Im a self employee & providing software services to inside\/outside India, all my services transactions was credited to my personal saving bank account, but first time I provided software service to US within few days ago and received very big amount to my personal saving bank account and not yet converted to Indian currency(Bank needs disposal instructions for FOREX department to convert it into Indian currency and credit to my bank account).
\nLater I opened current account with trade name(sole proprietorship), registered the GST, Taken LUT Bond, within a one or two days i'm getting <\/p>\n
= = = = = = = =<\/p>\n
Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n use that money for hiring employees and renting new office, etc..? = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n ing month ( the date you received advance \/ registered in GST ) = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n","protected":false},"excerpt":{"rendered":" Can i Claim Query (Issue) Started By: – Harish GV Dated:- 17-8-2018 Last Reply Date:- 20-8-2018 Goods and Services Tax – GSTGot 5 RepliesGSTIm a self employee & providing software services to inside\/outside India, all my services transactions was credited to my personal saving bank account, but first time I provided software service to US … Continue reading “Can i Claim”<\/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-13264","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/13264","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=13264"}],"version-history":[{"count":0,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/13264\/revisions"}],"wp:attachment":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=13264"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=13264"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=13264"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
For full text:-Visit the Source <\/a><\/p>\n
\nThanks
\nReply By DR.MARIAPPAN GOVINDARAJAN:
\nThe Reply:
\nWhether the invoices were issued in the name of sole proprietorship or in the name of individual?
\nReply By Harish GV:
\nThe Reply:
\nThank you for replying Dr. Mariappan Govindarajan
\nFrom the buyer side i received invoice in the name of individual
\nReply By ANITA BHADRA:
\nThe Reply:
\nDear Sir
\npoint wise reply to your query :-
\n(a) Point of taxable event for software exporter is – Earliest of Advance Received,\/ Provision of services\/Invoice raised ..
\nIn your case point of taxable event is PROVISION OF SERVICES
\n(b) GST REGISTRATION FOR SOFTWARE EXPORT SERVICES
\nexport service is an inter-state taxable supply and liable<\/p>\n
For full text:-Visit the Source <\/a><\/p>\n
\nUSE OF MONEY
\nIn GST Act , use of money is not restricted . As long as you are paying applicable GST , The only concern is availing Input Tax Credit on payment for business purpose .
\nYou can claim refund for input expenditure made in course of export of services.
\nReply By Harish GV:
\nThe Reply:
\nThank you Anita Bhadra mam for replying
\nand thank you clarifying about the Advance Payment, what i received is a full payment of service and service was exported before receiving the payment itself, i listed details below with time frame
\n * Service was exported on 25th July 2018
\n * July 27th 2018 i received amount to my personal saving bank account, invoice sent from the buyer i<\/p>\n
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