We are agent for various foreign principals for marketing their products in India and solicit orders from users of these in India. The Company receives commission which is a percentage based on the quantum of sales orders booked from customer in India. The commission is paid by the principals situated outside India in convertible foreign exchange.
PL. GUIDE US WHAT IS THE EFFECT IN GST CAN WE TAKE CREDIT OF GST WHICH WE HAVE PAID AGAINST COMMISSION RECEIVED BY US.
Yes ITC is available, said transaction is export of service, which is zero rated taxable supply under GST, hence you are eligible to claim the ITC or Refund of GST paid against the input supply used during course or furtherance of providing the export of service.
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