11 July 2022
I am proprietor n will receive payment from foreign country in advance for purchasing spices from India n then sending spices in foreign country. What will be the tax consequences ,how should I do the transaction,should I change the constitution from proprietor to company, bcoz do you think changing constitution will help foreign party to rely on me more,plz reply
11 July 2022
No need to change the constitution. Obtain IEC code and register with GST and submit letter of undertaking in GST portal so that no GST payable on exports. Applicable customs duty payable.
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