TMI BlogUSA Company - US Citizen- Living India more than 3 yearsX X X X Extracts X X X X X X X X Extracts X X X X ..... Hello, I am USA Citizen. I have Tax return filing Firm in USA. Its LLC sole proprietorship. Its single member only company. I am the member. I run that company from India for USA Clients and Money goes to that company and later that money comes to member of that company. That means money will come back to me. I file the tax return in India and Report the income. Do I have to file GST as LUT? As f ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ar as I feel that since money is going to Company, I don't have to deal with GST. Please assist on this query. Thanks. - Reply By Rajagopalan Ranganathan - The Reply = sir, Please elobarate the nature of service provided by you. Then only proper advise can be provided. - Reply By Prime Edge - The Reply = LLC's Service : To File Tax Return of USA Based Customers. - Reply By KASTURI ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... SETHI - The Reply = In my view your service is export of service. Hence exempted as zero rated supply. Value of export has to be included to arrive at threshold exemption limit. How to compute Aggregate Turnover of ₹ 20 lakh/ ` 10 Lakh. - Term aggregate turnover has been defined in Section 2(6) of the Central GST Act, 2017 to mean as the aggregate value of all taxable supplies ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... (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, to be computed on all India basis but excludes Central tax, State tax, Union Territory tax, Integrated tax and Cess. The value of following supplies shall be taken ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... into account while computing the limit of ₹ 20 Lakh/ ₹ 10 Lakh. (a) Value of all taxable supplies excluding the value of inward supplies (b) Value of exempted supplies (c) Value of export goods or services or both (d) Value of inter-Sta ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... te supplies of persons having same Permanent Account Number to be computed on all India basis Thus in view of the above legal position and in view of your turnover in the preceding year as well as this year, you can decide. - Reply By Prime Edge - The Reply = Suppose Revenue of Company is ₹ 28 Lakh and Net Revenue is ₹ 18 Lakh. But, I as Member of company will ge ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t ₹ 18 Lakh, Then GST Will require or not. - Reply By Prime Edge - The Reply = Suppose Revenue of LLC Company is ₹ 28 Lakh and Net Revenue is ₹ 18 Lakh. But, I as Member of company will get ₹ 18 Lakh, Then GST Will require or not? - Reply By KASTURI SETHI - The Reply = Pl.read Section 15 of CGST Act, 2017 . You are required to obtain registrationm because you cross ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 20 lakhs. No benefit of 10 lakhs which you are expecting for. - Reply By Prime Edge - The Reply = Sir If I convert my LLC single member company to multi-members company, then revenue of company will distributed to member of Partnership LLC company. Do I still fall into GST registration and filing GST Return? - Reply By KASTURI SETHI - The Reply = Company is treated as a person. One irrespect ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ive of members in a. Company. If you talk of partnership firm, it is one. - Reply By Prime Edge - The Reply = i think I didn't explain my company structure. Prime Edge LLC(USA Based) Member 1 : Janak Shah Member 2: Akshay Shah Both members are based on India. Prime Edge LLC is providing service tax return filing to USA based Customers. Both members are paying the taxes to India for the p ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rofit which coming from LLC. Based on my understanding both members are not required to file GST even revenue goes more than ₹ 20 lakh. Please confirm it. - Reply By Prime Edge - The Reply = Any reponse/feedback on my response? Please help me. - USA Company - US Citizen- Living India more than 3 years - Query Started By: - Prime Edge Dated:- 6-2-2018 Goods and Services Tax - GST - Got ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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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