When Registration is required for Freelancer?
After the 22nd Meeting of the GST council it has been announced that benefit of basic exemption limit of 20 lacs will be allowed for service provider
Hence If total value of service provided whether in India (whether intra state or inter state) or Out side India up to the 20 Lcs GST registration is not required.
If the total value of services exceed 20 Lacs then GST registration is required.
When and How many GST returns are required to be filed?
A) If total value of services during the financial year do not exceed 1.5 Crore then Quarterly GST returns are reuired to be filed. GSTR 1, GSTR 2 & GSTR 3 total 3 returns per 1 quarter so total 12 return per annum with 1 Annual return making total 13 GST returns
B) If total value of servcies during financial year exceeds 1.5 Crore then Monthly GST returns are required to be filed. Total 3 return per month so toal 36 return with 1 Annul return making total 37 returns
Am I exempt for GST Payment? or When Do I need to make the Payment of GST?
This questions will be applicable to you ONLY IF you are required to registered under GST, If registration is not required then you are exempt for GST Payment.
Export of Services are taxable at ZERO rate if the payment are received in convertible foreign currency.
So, if you receive money in foreign currency and then convert it to INR then GST liability would be Nil though you would be required to file GST returns monthly or quarterly as may be applicable and claim refund for the GST paid on purchase of goods or input services
But, if you receive mony in Indian Currency then it will not be treated as export of services and hence you will need to Pay GST @ 18%
If you have further questions please do not hesitate to contact us at email id mentioned in my signature below.
HKVK & CO LLP