Hello,
An India-based individual is working as a professional and serves only foreign-based companies to receive revenue in USD. He qualifies for filing returns under section 44ADA by declaring 50% of gross receipts as profit as a technical consultant.
1) Is GST registration required by such person? If yes, what should be the rate of GST (like 12% or 18%) and how should it be paid (like 12% of revenue or 12% of net profit?)
2) Isn't the GST not required because he is already declaring 50% of receipts as profit and paying income tax on it
Please let me know.
Thanks a lot
CAclubindia
