Statutory Compliances for Payment to International Suppliers via Credit Cards

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..... Hi Experts, Please guide regarding statutory compliance needs to be followed in order for payments being made via Credit Cards to suppliers outside India. Do we need to pay GST on RCM Basis and whats are the compliance required in terms of Income Tax Deductions for the said payments. Please help me on this.... Thanks Asha Kanta Sharma M +91-9864272826 M +91-8471817972 Skype: live.AshaKantaS .....

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..... harma [email protected] [email protected] [email protected] - Reply By YAGAY andSUN - The Reply = A person resident in India may make payment for import of goods in foreign exchange through an international card held by him/in rupees from international credit card/ debit card through the credit/debit card servicing bank in India against the charge slip signed by the i .....

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..... mporter or as prescribed by Reserve Bank from time to time ,provided that the transaction is in conformity with the extant provisions and the import is in conformity with the Foreign Trade Policy in force. (Para B.4 iii of the RBI Master Directions.). If it is related to goods then no TDS will be required to be deducted and Bill of Entry needs to be filed. If it is related to import of Services .....

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..... then GST is required to be paid under Reverse charge. - Statutory Compliances for Payment to International Suppliers via Credit Cards - Query Started By: - AshaKanta Sharma Dated:- 24-2-2021 Goods and Services Tax - GST - Got 1 Reply - GST - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementi .....

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..... ndia.com - TMI - TaxTMI - TMITax .....

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