We are developing tools for customised products and finished products manufacture from tools exported to same buyer's we requested for tools charges from them if received from them how to accounted in GST is it exports of service tools devlop is now with us till order completed
please reply how to treat in GST if amt rcd in foreign currency as tooling changes
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TOOL DEVLOPMENT CHARGES TO BE RECEIVED FROM OVERSEAS
Replies (4)
Yes ... it's import of Services.
In term of Section 13(2) of IGST read with 2nd proviso under section 13(3) inserted by amendment Act 2018 it's import of Services.
Note : Can also refer Circular 103/22/2019 GST
In term of Section 13(2) of IGST read with 2nd proviso under section 13(3) inserted by amendment Act 2018 it's import of Services.
Note : Can also refer Circular 103/22/2019 GST
Sorry mistype it's Export of Services.
So plz read Export of Services , insead of Import of Services
Are you bringing firstly tools into India and than export it . or are u receiving only technical services and then export tools to outside India
Tools manufacture by us and other party to manufacture finished products which was exported to same party from tooling amt received
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