How much would I be liable to pay as tax?

You are asking for GST or income tax. Kindly clarify 

Sir its a very broad question.

It all depends on what is your turnover, income.

Whether you opt for new tax rate at 22% or not.

For corporate there are not much ways to saving tax rather than planning expense.

It is a part of professional consultation. We can have a phone consultation for same.

Hope you find the information helpful if you do please rate it 5 and provide your valuable feedback for my improvement.

Thank you.

They are right that it's export but there are various condition which you need to fulfill to make it free from GST.

You are having many questions so you can have a phone consultation.

Dear Sir,

Hope you are doing well !!

It is advisable to take a phone consultation for detailed discussion.

Income tax can be calculated after preparing P&L and BS for your company. Tax will be calculated on the profit derived by the company.

Hi,

Please refer to the replies in line below:

Income Tax : For a Private Limited company, basic tax rate starts from 25% plus health and education cess. Surcharge is additionally applicable if the income of the company crosses the threshold limit specified under act. However, there is one form that was introduced in the budget which helps the companies in reducing the basic tax rate to 22%. Other ways of reducing tax depends more on the expense budgeting done for the year.

GST: Absolutely true, you do not need to pay GST on the export of services made by you. However, to be compliant under tax laws, you must take care of the below procedures :

   - Registration under GST is mandatory even for the taxpayers involved in the business of export of goods or services. Hence you must take registration.

   - Post this, you need to apply for Letter of Undertaking (LUT) from the department to claim the exemption.

   - All the filings should be completed on monthly and quarterly basis, as and when required under GST regime. Filings are mandatory even in case of Nil taxes as the intent of the law is to have a record of exact turnover of the company.

This is just for your information. If you have already taken care of the above, you can ignore the same.

Hope this helps !

Thanks

Damini

Hello,

For tax calculation understanding and savings ways, it would be advisable to contact directly or take a phone consultation.

Regards,

CA Hunny Badlani

Yes, if the supply qualifies all conditions to be classified as an Export of Service. Though GST registration and compliance might be required.

For income tax rates, you can follow the below income tax link,

https://www.incometaxindia.gov.in/Charts%20%20Tables/Tax%20rates.htm

I hope this answer satisfies your requirements. 

Regards,

CA Hunny Badlani

- Income tax rate would be 25%.

- If the turnover is more than Rs.20 lacs then you need to obtain GST registration. In case of export of services, obtain LUT for export without payment of taxes. You can claim refund of ITC on inputs and input services.

you need to register under GST once you cross the threshold limit of Rs. 20 Lakhs.

If your services are export-oriented and you receive foreign currency as consideration for the same, you can supply these services under LUT and no GST would be charged on your supplies.

Hey,

You will have to pay two types of taxes.

1. Income tax @ 22% on profit derived from your business. For tax reduction, request you to take a phone consultation because it will require a detailed discussion.

2. GST - Although, you rightly mentioned that GST is not applicable in case of export of services but it will be applicable on Indian clients @18%. Further, in order to take benefit of NO GST on exports, you need to take certain precautions such as taking LuT, keeping FIRC etc.

I would highly recommend you to take a phone consultation for this.