import of service

[SHARAD ANADA]

IF A REGISTERED TAXABLE PERSON MAKE PAYMENT TO FOREIGN MAGAZINE FOR PUBLICATION OF HIS INDIAN PRODUCT ADVERTISEMENT OVER THERE CAN IT BE CONSIDERED AS IMPORT OF SERVICE AND LIABLE TO RCM ?

AI Summary

Payment for Foreign Magazine Ads Qualifies as Import of Service Under GST, Subject to Reverse Charge Mechanism A registered taxable person inquired whether payment to a foreign magazine for advertising an Indian product constitutes an import of service and if it is subject to reverse charge mechanism (RCM) under GST. The first respondent confirmed it is considered an import of service, citing relevant sections and notifications of the IGST Act, which make RCM applicable. The second respondent agreed, stating that the subscription to a foreign magazine qualifies as an import of service, and GST is payable under the reverse charge basis.