My company is selling technical services via a US based service provider aggregator.
The aggregator is responsible for
- billing the clients
- deducting its commission from the client payment and
- sending the remaining amount in USD to my bank in India.
The end clients till now are based in either US or EU
What amount should be filed in the GSTR1 returns by me?
The actual rupee value that finally lands in my bank OR
The equivalent rupee value of the dollar amount charged to the end client by the aggregator.
e.g. If the aggregator charges $100 to the clients deducts $5 and transfers $95 to my account. and the bank deposit's INR 7700(95*82-bank charges) in my account, Should I report income of 7700 on my GST or INR 8200/-
Note this is an export of services under LUT so no GST amount is payable the above is just for reporting purpose.
CAclubindia
