TMI BlogForeign Inward Remittance Certificate - GST is applicable or notX X X X Extracts X X X X X X X X Extracts X X X X ..... 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 - Th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e Reply = A Foreign Inward Remittance Certificate (FIRC) is a document that acts as a testimonial for all inward remittances and payments received in India from abroad. So I would like to elaborate your query because FIRC would be generated if you export goods out of India receive currency in India, but it cant come when goods imported in India for that payment has to be made, so where is the q ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... uestion of While raising Invoice to Foreign customers we cannot add GST that invoice. For exports, there is no GST - Reply By KASTURI SETHI - The Reply = Sh.Kishan Barai Ji, In view of elaboration and clarification of query by you, I agree with you. Very well explained. - Reply By Rajagopalan Ranganathan - The Reply = Sir, You are facilitating the sale of impo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rted goods in India on commissioner basis. Though the commission is paid by your foreign customer in convertible 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 Commissio ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n Agents for Italian Machinery suppliers. Once Machinery is Purchased by the Indian Industrialists, we will be getting sales commission from Italian Companies. In the above Business Flow, we are raising Invoices to the Italian companies in Euro and we will be getting Euro payments through Bank. Also we are providing services in India for those Machineries, for which also we be paid by the It ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... alian companies. So Please clarify, is these transactions will attract GST, if yes what the rate of %. Also please confirm whether these will be under RCM Request you to clarify . Thanks regards, Ramakrishna.M - Reply By MUKUND THAKKAR - The Reply = In the above Business Flow, we are raising Invoices to the Italian companies in Euro and we will be getting Euro payments through Bank. if ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... raising invoices is not pertaining to export, which is meant for regularised your foregien income. As per view of all expert is right and correct. - Reply By KASTURI SETHI - The Reply = If we go by the common knowledge, the place of enjoyment is in India . No export as per GST law or pre-GST law (Central Excise and Service Tax). - Reply By MARIAPPAN GOVINDARAJAN - The Reply = I endorse th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e views of Shri Rajagopalan. - Reply By jagad eswar - The Reply = Dar Ramakrishna, Did you get required clarifications from this fourm. Are you also filing GSTR1 ? Is there a need for this? Sividha centeres dont have any answers for your problem and I am also in similar business like you. Regards Eswar - Foreign Inward Remittance Certificate - GST is applicable or not - Query Sta ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rted By: - RAMAKRISHNA M Dated:- 20-1-2018 Goods and Services Tax - GST - Got 10 Replies - GST - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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