Accepting payment in Indian currency for exports.
Post 1 of 4
More and more buyers asking to accept paypal for orders upto 1000 or 2000 usd and paypal transfer money to our bank in Indian currency.
Do we need to pay vat on this income and how can we show it as exports???????
Regards
Ram krishan
08 Sep 2009 21:43
Post 2 of 4
The answer to your question depends on whether you are shipping to a destination outside India or in India. For the former, you do not pay VAT; however, you do have to have valid evidence to show that the transaction is an export.
In other words, are you shipping the goods abroad or selling them within the country? For the former, you would obviously have the Customs' Invoice stamped by the Indian Customs, Shipping Bill, Way Bill, etc. If you sell within the country, you would not have any of these documents. In that case, you would have to pay VAT.
Hope that answers your question.
In other words, are you shipping the goods abroad or selling them within the country? For the former, you would obviously have the Customs' Invoice stamped by the Indian Customs, Shipping Bill, Way Bill, etc. If you sell within the country, you would not have any of these documents. In that case, you would have to pay VAT.
Hope that answers your question.
24 Sep 2009 09:17
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Post 4 of 4
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I can't help you,wating for someone who know itSIGNATURE:
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