Hi,
I am the founder of a startup and currently our revenues are under Rs. 20 lakh. We have two products: 1. Robotics education product for high schools and engineering colleges 2. Placing temporary workers with local businesses.
1. For product number 1, we need to buy robotics kit components that we procure from Mumbai where we are charged GST of 18%. We are about to arrive at a pricing structure for the product and are wonderingif we should get GST registered and charge GST of 18% from students to enable us to benefit from input tax credit.
a. In this case, our net tax liability would be 0, wouldn't it?
b. So does it make sense for us to go ahead and get GST registered and file our returns?
c What is required to avail input tax credit?
For product number 2, what is the GST rate on staffing and placement services?
Thanks
CAclubindia
