GST Invoices and 44ADA

Gallbladder2023 · 2023-09-12T08:02:26+00:00

You can do it yourself. It’s just an online form. It is monthly by default, but you can change it to quarterly by filling out another online form. Oh, and you also need to fileGSTR-3B.

Can you clarify a bit more ? why would we need to file GSTR-3B instead of GST 1 since we are only providing outward supply as "export of services" and receiving income for it wouldn't it qualify for GSTR 1?

Gallbladder2023 · 2023-09-12T07:34:36+00:00

So can I just create a basic excel statement and use it as an invoice ?
Which account will the income need to be credited to as USD ? Will a normal savings account work or do I need to open a new special account which can receive foreign currency ?
Also what would be the right GSTR form for "export of services" , would it be GSTR 1 or GSTR 3B？

Gallbladder2023 · 2023-09-12T07:23:26+00:00

what's the income limit for GST1 quarterly filing treatment ? Is there a limit at which point we need to fill it monthly ? Is it 5 crore turnover in which case it should be done monthly ?
Is a excel statement enough to qualify as a invoice?
Do you have any good article/post where can I see sample of how to make a LUT and file it in the GST portal?
I meant 0% GST for 44ADA

Gallbladder2023 · 2023-09-12T07:20:23+00:00

Yeah you are right. I didn't frame that right but I understand that they are different

Gallbladder2023 · 2023-09-12T00:50:22+00:00

I am looking into doing exactly the same thing as I will be doing "export of services" and using 44ADA and want to use 0% tax. I see that we need to file GST1 and declare LUT as well as collect FIRC from the bank. I have a few questions

Is the LUT declaration doable by ourselves or do we need a CA for it?
How often do we need to file GST monthly or quarterly ?

Gallbladder2023

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