Hi, I am running a very small IT business, most turnover (above 20L) comes from export of services which is gst excluded, only a small portion (less than 5L)comes from Indian clients for services provided. Now my question is do i need gst as Indian turnover is less than 20L.
IF I NEED GST , then do my Indian client need to pay 18% extra above and over their already charged amount? and if they havent payed GST do i need to pay GST as well as Income tax at 30% rate? thats almost 48% of profit !!!!
Also what is really my benefit? I now need to charge more from client for same services, so is there benefit?
CAclubindia
