Hello All,
I have been searching over the Internet for a long time for my questions relating to tax planning and filing.
Situation - I am working as a Software Professional providing software services to a Global Company based in APAC region. My client is a company registered both in India and Malaysia. Recently my contract has been revised upward of 20 Lac per annum. My client company has asked me to register for GST.
Q-1: Do I need to register myself as a Proprietorship for GST?
Situation-2 - My client company will be paying me directly from Malaysia into my India bank account each month. But they will not be deducting any TDS/Income Tax etc. and will pay me a lumpsum amount each month.
Q-2: Do I need to raise a invoice to them with my GST (my GST application is under process)?
Situation-3 - They mentioned to me that under GST 'Software Export Services' are 0% GST, so I don't need to charge them 18% GST on the invoice.
Q-3 (i): Should I issue invoice to them and mention GST as 0% with remarks (Software Export Services)?
Q-3 (ii): Do I need to get any other license/registration from Indian Govt. to show that I am providing 'software export services/consultancy' to a Foreign country client?
Q-3 (iii): Will I be filing a nil GST return each month? (GSTR-1) and (GSTR3B) if I can recall correctly.
Q-3 (iv): After registering for GST, am I able to claim for refund of GST that I have paid on stuff that I purchase for my work-from-home (office setup) i.e. furniture, printer, laptop?
Situation-4 - I am required to file my own income tax at the end of year.
Q-4 (i): What ITR form do I need to use? (ITR-4)?
Q-4 (ii): What deduction can I claim while filing for my ITR?
I would be really grateful to the qualified members of this forum for replying to my above queries.
Thanks in advance
Pradeep
CAclubindia
