04 January 2021
One of my client in India is having one office in partnership in Hong kong . he has earned commission Income for selling goods to Columbia which he has purchased from china. Income accrued and received in hong kong only. now he wants to remit the forein earned income in india. what will be the Tax implications as per Income Tax Act and as per GST act ????
05 January 2021
GST not applicable as trade happened outside India. Income tax applicable on global income whether remitted to India or not less any tax paid outside India.
CAclubindia
