You can claim a credit for any GST included in the price you pay for things you use in your business. This is called an input tax credit, or a GST credit.
If you purchase goods or services for both business and private use, you can only claim a GST credit for the part of the purchase relating to your business use. If you later find your actual use differed from your intended use, you may need to adjust the amount of GST credits you have claimed. If you are a small business, you may be able to account for the private portion of your business purchases once a year, rather than each time you lodge an activity statement.
To do this you need to make an annual private apportionment election. Your supplier has 28 days to provide you with a tax invoice after you request one. Wait until you receive it before you claim the GST credit, even if this is in a later reporting period.
An invoice containing incorrect or incomplete information is not a valid tax invoice. You may be able to treat it as a tax invoice if it is missing information that can be obtained from other documents the supplier has given you. Alternatively, you can ask your supplier to replace it with a complete and correct tax invoice.
The Commissioner also has the power to treat an incomplete document as a tax invoice. If your supplier does not respond to your request for a valid tax invoice within the 28 day period and you haven't been able to find the missing information from other documents, you can seek our permission to treat a document as a valid tax invoice.
I supply goods to SEZ units and developers. For such supplies, presently drawback is available to the recipient or to me if recipient gives a disclaimer. What is status of such drawback under GST regime? There is no change except for the fact that if drawback is claimed by DTA supplier, the claim needs to be filed with the jurisdictional Customs Authorities. Will an exporter be required to pay GST in case of goods procured from unregistered persons including unregistered job workers?
In case of supply by an unregistered person including unregistered job workers , the registered person i. Since commission is received by agents in India, and the place of supply of service is in India, GST will be payable.
Circular No. In GST, there will be single registration for such assesses. With reference to clause 5 of Rule 96 A as inserted vides Ntf No. Yes, conditions and safeguards have been specified by Notification No. The person should not have been prosecuted for any offence under the Central Goods and Services Tax Act, 12 of or under any of the existing laws in a case where the amount of tax evaded exceeds two hundred and fifty lakh rupees.
It will be zero rated if the sale proceeds are realized in convertible foreign exchange. He is supplying the goods to the merchant-exporter. Therefore, is the manufacturer required to pay CGST and SGST in all cases of exports by merchant-exporter even though the goods are being sealed in container for export from the premises of manufacturer-exporter? The Commissioner of Kota region has office at Udaipur which is Kilometers away from Kota due to which it is impractical to file LUT at Udaipur with Commissioner as compared to previous procedure.
Since Board has not notified so far, therefore, this office is of the view that Bond is to be furnished in all cases as of now. In terms of Para 6 of Circular No. It is not clear for the exporters having an export turnover of say Rs.
Are those exporters who have received their total due inward remittance of e. Duty Drawback scheme with certain modifications will continue under the GST regime. The changes in the said scheme are as follows: The Drawback shall be available only of Customs duties on imported inputs and Central Excise duty on items specified in the Fourth Schedule to the Central Excise Act specified petroleum products, tobacco etc.
As an export facilitation measure, for the transition period of 3 months, from July to September, , Drawback at higher composite rates will continue to be granted subject to certain safeguards i. In absence of such certification, drawback will be restricted to the customs portion of drawback.
After 30th September , drawback will be admissible only at lower rate determined on the basis of the custom duties paid on the goods imported for supplying goods for export.
If an exporter has stock of GST paid inputs as well as inputs from pre-GST period and if inputs from both lots are used in export goods, what shall be Drawback on such exports? Will brand rate of Drawback be admissible for Central Excise duty and Service Tax in respect of exports made prior to GST implementation, for which application is filed after 1st July ?
For the exports made prior to 1st July , application for fixation of brand rate as per the Drawback scheme under the earlier law defined as 'existing law' in section 2 48 of the CGST Act, can be filed even after 1st July Applications for fixation of brand rate used to be filed with jurisdictional Commissioner of Central Excise having jurisdiction over the factory where export goods were manufactured.
Under GST regime, will there be any change regarding filing of application for fixation of brand rate? With effect from 1st July , applications for fixation of brand rate shall be filed with the Commissioner of Customs having jurisdiction over place of export of goods i. This shall be applicable even for exports made prior to 1st July for which application is yet to be filed. In case exports are from multiple places, application shall be filed with the Commissioner of Customs having jurisdiction over any one of the places of export of goods.
With effect from 1st July , applications for fixation of brand rate will be required to be filed with the Commissioner of Customs having jurisdiction over the principal place of business of the DTA supplier. This shall be applicable even for exports made prior to 1st July for which application for fixation of brand rate is yet to be filed. On re-export of imported goods, drawback of all duties paid at the time of importation was admissible earlier, as per the rates prescribed in this regard.
What will be the position in respect of re-export made after 1st July , of the goods imported prior to 1st July ?
Drawback under Section 74 of the Customs Act, is available for duties paid at the time of importation. Similarly, in respect of the goods imported after 1st July , Basic Customs Duty plus IGST plus Compensation Cess will be paid and Drawback of all of these would be paid on re-export of such imported goods.
For items specified in the Fourth Schedule to the Central Excise Act, specified petroleum products, tobacco etc. No exemption under GST Law is provided. The scrips cannot be utilized for payment of Integrated Tax and Compensation Cess. For example, sale of goods is a type of supply. GST is levied on all types of supplies which are — i made for a consideration and ii are for the purpose of furtherance of business.
There are some exceptions when these conditions are not met, yet supply is considered to have been made, for example, interstate stock transfer of goods even without consideration or importation of services even if not in the furtherance of business.
No, GST will not be levied on alcohol for human consumption. Electricity and sale of land and building are exempted from levy of GST. Securities are neither goods nor services for the purposes of the CGST Act, and therefore supply of securities is not taxable. GST is a dual levy to be simultaneously levied by both Centre and State. Whether a registered person will have to approach two authorities - Centre as well as State for various permissions, audit etc.
No, a registered person will have to approach only one tax authority for all practical purposes. Each registered person would have one tax administration office, either of the Centre or of the State. The registered person would be informed of the tax administration concerned with him. When a supply originates in one State and is consumed in another State, tax can accrue to either of the two States. In a destination based consumption tax, taxes accrue to the State where the supply is consumed.
In origin based tax, the tax accrues to the State where the supply originates. GST is basically a destination based consumption tax.
GST is generally paid by the supplier, i. The supplier collects GST from the recipient of the supply as part of the consideration. However, in a few exceptional cases, the recipient, would be liable to pay GST to the Government on reverse charge basis.
When such purchases are made by him, tax would have been charged by his supplier and collected from him. Since tax is collected from him, he can avail credit of the tax paid by him to his supplier that is to say, he can use this amount for making payment of tax due from him on further supply made by him. This is known as input tax credit for the recipient.
On the contrary GST will result in streamlining of processes and reduction of compliance burden. GST is a simple tax which uniformly applies across the country. Also, in the earlier regime there were multiple compliances required for taxes such as Central Excise, Service tax, VAT etc. GST makes it single and uniform compliance for indirect taxes across the country. Under GST, there is just one interface with no face-to-face meeting between taxpayers and tax authorities and practically every activity will be done online.
A person having business which has aggregate turnover of more than Rs. Aggregate turnover is defined in section 2 6 of the said Act. All supplies are below Rs. He would be required to register under GST. An agriculturist, to the extent of supply of produce out of cultivation of land, is not liable to registration. I am engaged exclusively in the business of supplying goods or services which are exempt from GST.
Am I liable for registration? You should apply for registration at the earliest on the GST common portal and obtain application reference number ARN. The application for registration must be made within 30 days of the turnover crossing Rs. After registration, you can issue revised invoices as permitted under section 31 3 a of the said Act. These supplies should be shown in the return and taxes paid on them. How can an application for fresh registration be made under GST?
Within what time will registration be granted? Application for fresh registration is to be made electronically on the GST common portal www. If the details and documents are in order, registration will be granted within 3 working days, except in cases where an objection has been raised within this period in which case registration will be granted within a maximum period of 17 days.
Do I need to apply for new registration? If you have not received provisional ID, please contact your tax administration to obtain the same. The number would remain the same. I am a SME selling printed books after printing and have a turnover of twenty-five lakhs rupees per annum. Do I need to register? A person dealing with only exempted supplies is not liable to registration irrespective of his turnover. If I register voluntarily though my turnover is less than Rs. If you obtain voluntary registration despite the turnover being below Rs.
You will also be entitled to take input tax credit. The taxpayer can himself download the certificate of registration online from the GST common portal www. Yes, request for amendment has to be made online. All amendments in registration particulars, except some core fields, can be amended in the system without the intervention of any official by merely filing the details of the amendment.
Also for some amendments, approval may be needed. Examples of fields which require approval are- legal name of business, address of the place of business and addition, deletion or retirement of partners or directors etc. Examples of fields which can be amended without any approval are- change of telephone number, email ID, bank account etc. A person liable to be registered has to apply for registration in each State from where he makes or intends to make outward supplies under GST.
Within each State, generally only one registration is required to be obtained. No, there is no provision requiring that a manufacturer irrespective of threshold or nature of supply to register himself under GST.
For example, a manufacturer dealing only in exempted goods or where his turnover is only intra-State and below Rs. Invoice should be issued in triplicate in case of supply of goods. The original copy is meant for buyer, duplicate for transporter and triplicate copy for record of the seller.
A registered person under composition scheme or supplying exempted goods or services shall issue a bill of supply instead of a tax invoice. The tax invoice shall contain details as specified in the rule in this regard. The key details specified in the rules are - name, address and GSTIN of the supplier and the recipient if registered , a unique number of the invoice and the date of issue, description of goods, value of goods, rate of tax, amount of tax and signature.
In such cases, the registered person shall issue a consolidated invoice at the end of the day in respect of all such supplies. In case of supply of exempt goods or when tax is paid under Composition Scheme, is the registered person required to issue a tax invoice? How a bill of supply is different from a tax invoice? In such cases, the registered person shall issue a Bill of Supply and not a tax invoice. The bill of supply is different from a tax invoice both in name and details contained.
While most of the details to be provided in a bill of supply are similar to tax invoice, the bill of supply does not contain the rate of tax and the amount of tax charged as the same cannot be collected. If goods are transported in semi-knocked down condition, when shall the complete invoice be issued?
When goods are transported in semi-knocked down condition, the complete invoice shall be issued before dispatch of the first consignment. Delivery challan shall be issued for subsequent consignments. Original copy of invoice shall be sent along with the last consignment. Composition levy is an alternative method of levy of tax designed for small taxpayers whose turnover is up to Rs.
It is a kind of turnover tax. The objective of the scheme is to provide a simplified tax payment regime for the small tax payers. The scheme is optional and is mainly for small traders, manufacturers and restaurants. What is the eligibility criteria for opting for composition levy? Composition scheme is a scheme for payment of GST available to small taxpayers whose aggregate turnover in the preceding financial year did not cross Rs. In the case of 9 special category States, the limit of turnover is Rs.
However, if you are a manufacturer of ice-cream, pan masala or tobacco or tobacco products or if you are a service provider other than a restaurant, you are not eligible for composition scheme.
What is the form in which an intimation to pay tax under the composition scheme needs to be made by the taxable person? A manufacturer is eligible to avail composition scheme except manufacturers - a whose aggregate turnover in the preceding financial year crossed Rs. A registered person will have to pay GST on monthly basis on or before 20th of the succeeding month and if he has opted for composition levy he will have to pay GST on a quarterly basis on or before the 18th day of the month after the end of the quarter.
A person availing composition scheme during a financial year crosses the turnover of Rs. Will he be allowed to pay tax under composition scheme for the remainder of the year i. The option to pay tax under composition scheme shall lapse from the day on which his aggregate turnover during the financial year exceeds Rs.
For the purpose of availing composition how will aggregate turnover be computed for the purpose of composition? Aggregate turnover shall be computed on the basis of turnover on all India basis. It includes aggregate value of all taxable supplies excluding the value of inward supplies on which tax is payable by a person on reverse charge basis , exempt supplies, exports of goods or services or both and inter-State supplies of persons having the same Permanent Account Number but excludes GST and cess.
Can a person who has opted to pay tax under the composition scheme avail Input Tax Credit on his inward supplies? No, a taxable person opting to pay tax under the composition scheme is out of the credit chain. He cannot take input tax credit on the supplies received. How is a manufacturer under the composition scheme required to bill his supply? Can a registered person, who purchases goods from a composition manufacturer take input tax credit?
A manufacturer opting to pay tax under the composition scheme cannot issue a tax invoice to his buyer but would issue a Bill of Supply. He cannot collect any tax supplies made by him on his Bill of Supply and is required to show only the price charged for the supply. Consequently, the registered person buying goods from a composition manufacturer cannot take input tax credit. How would a manufacturer under the composition scheme who receives inputs or input services from an unregistered person pay GST?
What will be the tax rate if the purchase is from a person availing composition? GST will have to be paid on inputs and input services received by such manufacturer under reverse charge at normal rates and not at the composition rates. Purchase from a person under the composition scheme is purchase from a registered person and hence will not attract tax under reverse charge under section 9 4 of the CGST Act, Any person migrating from the existing law to a composition scheme and holding stock of goods purchased from unregistered persons is required to pay tax on such goods.
In case a person has registration in multiple States, can he opt for payment of tax under composition levy only in one State and not in other States? An intimation that composition scheme has been availed in one State shall be deemed to be an intimation in respect of all other places of business registered on the same Permanent Account Number in other States. There can be three situations with respective effective dates as shown below: Situation.
Effective date of registration; Intimation shall be considered only after the grant of registration and his option to pay tax under composition scheme shall be effective from the effective date of registration. The option exercised by a registered person to pay tax under the composition scheme shall remain valid so long as he satisfies all the conditions specified in the law. The option is not required to be renewed. What are the other compliances which a provisionally registered person opting to pay tax under the composition levy need to make?
Such person is required to furnish the details of stock, including the inward supply of goods received from unregistered persons, held by him on the 30th day of June, electronically, in FORM GST CMP, on the common portal, either directly or through a Facilitation Centre notified by the Commissioner, within a period of sixty days from the date on which the option for composition levy is exercised or within such further period as may be extended by the Commissioner in this behalf.
Further, if on 1st July, such person holds in stock goods that have been received from outside the State or imported from outside the Country, he is not eligible to opt for composition scheme. In case he wants to claim input tax credit on the stock of inputs and inputs contained in semi-finished or finished goods held in stock by him on the date of withdrawal, he is required to furnish a statement in FORM GST ITC containing the details of such stock within a period of thirty days of withdrawal.
Any intimation or application for withdrawal in respect of any place of business in any State or Union territory, shall be deemed to be an intimation for withdrawal in respect of all other places of business registered on the same Permanent Account Number. A person paying tax under composition scheme cannot make inter-State outward supply of goods.
Job-work is a supply of service and not eligible for composition scheme. Any manufacturer or processor who wishes to carry out job-work for others would not be eligible for composition scheme. A registered person under composition scheme would not have input tax credit and he would make all his tax payments by debit in the electronic cash ledger maintained at the common portal.
The taxpayer can deposit cash anytime in the electronic cash ledger at his convenience. The payment in electronic cash ledger can be made through all modes available like e-payment through net-banking, credit card and debit card, over the counter of banks, RTGS or NEFT. No, registered person under the composition scheme will not pay taxes every month. He would file return and pay taxes on a quarterly basis i.
Due date for payment of tax for them would be on or before the 18th day after the end of such quarter. Rules on Accounts and Records provide details of the accounts to be maintained. They are maintained under normal course of business by any small manufacturer. The details to be maintained in accounts inter-alia consists of goods supplied, inward supplies attracting reverse charge, invoices, bills of supply, delivery challans, credit notes, debit notes, receipt vouchers, payment vouchers, refund vouchers etc.
Does a manufacturer under the composition scheme need to maintain details of accounts of every supply received and made? No, the requirement to maintain detailed accounts of stocks in respect of goods received and supplied, work in progress, lost, destroyed etc.
Such a person shall maintain a true and correct account of production or manufacture of goods, inward and outward supply of goods, stock of goods, tax payable and paid. A manufacturer under the composition scheme need not maintain account of input tax, input tax credit claimed etc. Can a manufacturer under the composition scheme maintain his accounts manually? And can he issue his bill of supply manually?
Yes, a manufacturer under the composition scheme can maintain his accounts in registers serially numbered and also issue bill of supply manually following the conditions specified in rules in this regard.
Whether a registered person under the composition scheme needs to learn HSN code of any input purchases and output supplies? No, a registered person under the composition scheme would not need to specify HSN code of their products in bill of supply or return.
What return a registered person under the composition scheme needs to file and at what frequency? A registered person under the composition scheme of GST is required to furnish quarterly return called GSTR-4 between the 11th day and 18th day of the month succeeding the quarter.
What details are required to be furnished in the return to be filed by the registered person under the composition scheme? GSTR-4 may be referred for details required to be filled in the return. It is a very simple return containing consolidated details of outward supplies, details of import of services or other supplies attracting reverse charge and inward supplies which shall be auto-populated. It means the liability to pay tax is on the recipient of supply of goods or services instead of the supplier of such goods or services in respect of notified categories of supply.
No, reverse charge applies to supplies of both goods or services, as notified by the Government on the recommendations of the GST Council. In case of receipt of supply from an unregisteredperson, the registered person who is receiving goods or services shall be liable to pay tax under reverse charge mechanism. A person who is required to pay tax under reverse charge has to compulsorily register under GST.
The threshold limit of Rs. The time of supply will be the earliest of the following dates: a date of receipt of goods; or b date of payment as per books of account or date of debit in bank account, whichever is earlier; or c the date immediately following 30 days from the date of issue of invoice by the supplier. The time of supply will be the earlier of the following dates: a date of payment as per books of account or date of debit in bank account, whichever is earlier; or b the date immediately following sixty days from the date of issue of invoice by the supplier.
Can a person take input tax credit without payment of consideration for the supply along with tax to the supplier? Yes, the recipient can take ITC.
The condition of payment of consideration to along with tax within days from the date of issue of invoice is not applicable where tax is payable on reverse charge basis. Whether old gold jewellery sold by an individual to a jeweller will be taxed under reverse charge mechanism?
No, even though the sale of old gold by an individual is for a consideration, it cannot be said to be in the course or furtherance of his business as selling old gold jewellery is not the business of the said individual , and hence does not qualify to be a supply per se. Accordingly, the sale of old jewellery by an individual to a jeweller will not attract the provisions of Section 9 4 and jeweller will not be liable to pay tax under reverse charge mechanism on such purchases.
Whether old gold jewellery sold by an unregistered supplier will be taxed under reverse charge mechanism? Yes, as the sale is for consideration and is in the course or furtherance of business of such unregistered supplier. Aggregate turnover does not include value of inward supplies on which tax is payable on reverse charge basis. In other words, aggregate turnover, in the hands of supplier, would include value of those supplies on which tax is not payable by him but by the recipient of such supplies.
Is an advocate providing interstate supply chargeable under Reverse Charge liable for registration? No, suppliers who are making only those supplies on which recipient is liable to discharge GST under RCM are exempted from registration. A person receives a supply from an unregistered person in another state. Whether he has to pay tax on reverse charge basis? No, the person supplying the inter-state supply will have to compulsorily register irrespective of his turnover and will be liable to pay tax, unless the supplier has been exempted from taking registration Thus question of unregistered supplies making inter-state supplies does not arise.
The recipient receiving supplies from unregistered supplier will have to issue invoice on self and pay tax. In other words, the recipient receiving supplies, which are subject to reverse charge, from a registered person need not issue a tax invoice.
Do even small sundry purchases from unregistered persons have to be levied to tax on reverse charge basis? No, purchases by registered persons from any or all unregistered persons of up to Rs. A registered person purchases goods worth Rs. Whether he has to pay GST on Rs. He will have to pay GST on Rs. Exemption is available only if the value of purchases per day is less than Rs.
Yes, input tax credit of tax paid on reverse charge basis by the recipient is allowed to the recipient and the credit can be taken even in the same month. Whether, any Indian providing services to PayPal on contract basis is required to pay reverse charges on charges deducted by PayPal? It depends on the nature of charges deducted. Where the vehicle is taken on rent or lease , it will be supply of service under or and supply of service will be taxable under RCM under section 9 4. We are also paying small payments like unloading charges, detention charges and under miscellaneous payments to petty contractors.
Is GSTN under reverse charge applicable for these payments? If you are not registered, payment on reverse charge under section 9 4 of CGST Act, is not required. That said, if such services availed fall within the domain of any service that is subject to reverse charge under section 9 3 of CGST Act, you have to get yourself registered and GST has to be paid.
Can any unregistered transporter having a turnover below 20 lacks carry the goods for a registered dealer? Yes, GTA can carry the goods. The supply of services of goods transport by road transporter other than a GTA and a courier is exempted under Notification No.
Re-imbursement is an expense in the course or furtherance of business and if the same is against a taxable supply taken from an unregistered supplier, RCM will apply. As per notification no.
Currently Banks do not pay any VAT on import of precious metals. IGST paid can be taken as input tax credit by the banks. Is the overseas entity required to have GST registration because currently they do not file returns and are governed by multi-nation treaties? What is material in this definition is the mere act of bringing into India; the ownership is not material for determining whether an import has taken place.
Banks, being registered entities, would be liable to pay IGST on such imports but not the overseas entities since they are not effecting the import. Will customers be liable to pay GST rates? Banks lend gold in physical form for a period not exceeding 6 months. Banks pay provisional VAT currently at the time of delivery of gold on the basis of ongoing market prices. Banks must be allowed to set-off the excess provisional GST paid to the government against future fixation of prices.
In case of excess payment, the same should be refunded on Pan - India basis and not on the basis of States. When we issue gold as raw material to our Job Worker for Job Work and he returns that gold as finished goods, what GST treatment will be done and how to calculate the value?
The jewellery manufacturer would in turn take credit of GST paid on such job work and may utilize the same for payment of GST on his outward supply of manufactured jewellery.
However, if the job worker is exempted from registration, the jewellery manufacturer would be required to pay GST on his input supply from the job worker [of jewellery made out of precious metal given by him] on reverse charge basis.
Nonetheless, he would be eligible to avail input credit of the tax so paid under reverse charge mechanism. In terms of Schedule II of the CGST Act , development, design, programming, customisation, adaptation, upgradation, enhancement, implementation of information technology software and temporary transfer or permitting the use or enjoyment of any intellectual property right are treated as services.
What are the implications of recognising the development, design, programming, customisation, adaptation, upgradation, enhancement, and implementation of information technology software as a service? The primary implication is that the place of supply rules applicable to services would apply in determining taxability of the supply of software services. The same would be applicable in situations of supply of services involving a temporary transfer or permitting the use or enjoyment of any intellectual property right.
The other implication is that the supplier of software services would not be eligible for the composition scheme. This limit of turnover for a special category State is ten lakh rupees. These individuals are having small turnover of Rs 5 to 10 lakh, and therefore are not registered in GST.
If the supplies are made by unregistered suppliers, GST is liable to be paid by the recipient, who is a registered person, under section 9 4 of the CGST Act, The exporters have two options for zero rating, which are as follows,- 1 To pay integrated tax on supplies meant to be exported and get refund of tax so paid after the supply is exported. The supply of any service is considered an export of service, where the following conditions are met: 1 the supplier of service is located in India; 2 the recipient of service is located outside India; 3 the place of supply of service is outside India; 4 the payment for such service has been received by the supplier of service in convertible foreign exchange; and 5 the supplier of service and the recipient of service are not merely establishments of a distinct person in accordance with explanation 1 of section 8 of the IGST Act, However, if the recipient is not registered and his address is not available on the records of the supplier, the place of supply would be the location of the supplier.
A recipient of services is treated as located outside India if his place of business where he receives services is outside India or, if he does not have a place of business, his usual place of residence is outside India. Would I be liable to pay GST on reverse charge even if the foreign supplier of software from whom I buy for use in my firm registered under GST was to accept the payment in Indian Rupees?
Yes, you would be liable to pay GST. A supply is treated as an import of service if the following conditions are satisfied: 1 the supplier of service is located outside India; 2 the recipient of service is located in India; and 3 the place of supply of service is in India. The place of such supply would be taken to be the location where the firm is registered in GST and the supplies would attract integrated tax IGST.
The factum of which currency was used to pay the consideration is immaterial. I am an Indian Company who makes software and sells it outside the country. The place of supply of such intermediary service is location of the supplier in terms of section 13 8 of the IGST Act, In terms of section 2 15 of the IGST Act, , the location of a service provider is to be determined by applying the following steps sequentially: 1 where a supply is made from a place of business for which the registration has been obtained, the location of such place of business; 2 where a supply is made from a place other than the place of business for which registration has been obtained a fixed establishment elsewhere , the location of such fixed establishment; 3 where a supply is made from more than one establishment, whether the place of business or fixed establishment, the location of the establishment most directly concerned with the provision of the supply; and 4 in absence of such places, the location of the usual place of residence of the supplier.
For agency services, I bill the principal in convertible foreign exchange. Whether GST liability arises in this case? Updated on : Jul 28, - PM 08 min read. Start Matching. Was this article helpful? Have a query? ITR Resources. Mutual Fund Resources.
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