TaxTMI 
TaxTMI 
Sir,
May I know the GST rates payable by agents for inward remittances received from overseas suppliers? Both IGST and CGST payable?
Thanks
Inward remittance
21 Aug 2018 
5 Replies 
5410 Views Asked by
IGST applicability on inward remittances for export related supplies, with liability and rate depending on service nature.
Inward remittances for export transactions are treated as inter state supplies and attract IGST, with the applicable GST rate depending on the nature of the service. GST liability allocation depends on contractual terms and transaction facts. Foreign currency conversion and collection charges follow prescribed GST slabs; agents often remit net proceeds. Proper regularisation of remittance documentation and compliance with RBI rules on third party remittances are essential, as noncompliance may affect GST treatment and invite penalties. (AI Summary)
Inward remittances for export transactions are treated as inter state supplies and attract IGST, with the applicable GST rate depending on the nature of the service. GST liability allocation depends on contractual terms and transaction facts. Foreign currency conversion and collection charges follow prescribed GST slabs; agents often remit net proceeds. Proper regularisation of remittance documentation and compliance with RBI rules on third party remittances are essential, as noncompliance may affect GST treatment and invite penalties. (AI Summary)