MERCHANT TRADING

[tanmay hada]

dear sir, we are company based in merchant trading and importing, but our point of querry is ONLY MERCHANT TRADING . We buy from an overseas country and export directly to third country sitting here in India.

can you please advice the implication of gst on income generated from such trade.

thanks

tanmay

AI Summary

GST treatment of merchant trading: switching bill of lading can avoid import GST but export must be reported.
Switching bill of lading in merchant trading, where overseas goods are exported directly to a third country without filing a bill of entry, typically avoids import GST; no import return is required. Export particulars arising from such transactions must be shown in GSTR-1. Invoice and return treatment depend on whether the Indian merchant invoices the importer or only receives a commission while the supplier invoices directly; supporting switched B/L documentation and correct disclosure in GSTR-1 are essential.