Composite GST & Foreign Clients

B Sam (Developer) (6 Points)

18 March 2022  

Hello,

We are a small IT consultancy firm based in Chennai with annual turnover of less than Rs. 40 lacks. Our revenue comes from 70% foreign & 30% domestic. 

Would like to have a clarity about the following:

1. Can we voluntarily opt for composite tax? If so, how much we should pay?

2. Do we pay GST for services rendered to foreign companies?

Thanks