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For Indian sellers, what is the tax option that must be selected?


venkatameghana

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I Need help regarding Tax filing and what you guys are doing in the case if you are earning more than 20 lakh rupees in a financial year

What is the right thing to do ? do we have to register for GSt or we can get the AUDIT done by CA ? 

Please help 

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Hi, I am a level two seller on Fiverr since 2019! Since the implementation of TDS by Fiverr as per Indian Government laws I was led to believe since I am not taxable the deduction under TDS would be 1% but it's always been 5% for me. When I asked the support to clarify what was going on they explained the same to me and further added if I had provided my PAN info the deduction will be 1% otherwise it remains 5%. Now the thing is my PAN info was added since the implementation of this change yet 5% is deducted per GIG, which I then reported back to the customer support and they informed me my PAN info was incorrect, which I then checked and verified with my PAN card, and my tax return docs, surprisingly enough it wasn't incorrect, as soon as I mentioned that to the support with a screenshot and asked for a better clarification they marked my query SOLVED. I am utterly confused as to what actually happened?! Anyone faced similar situations?  

Screenshot 2022-05-30 191702.png

Screenshot 2022-05-30 191721.png

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On 4/17/2022 at 2:51 PM, video_king said:

I Need help regarding Tax filing and what you guys are doing in the case if you are earning more than 20 lakh rupees in a financial year

What is the right thing to do ? do we have to register for GSt or we can get the AUDIT done by CA ? 

Please help 

Did you recieve any answers regarding this.

Did you find any CA that has adequate knowledge about Fiverr, GST and export of services.

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On 4/28/2021 at 1:08 PM, venkatameghana said:

All of us know the taxation system has changed recently! So now we are supposed to update our billing info to avoid freezing of our gigs. This is one of the questions asked-
How is your service taxed? Should I be selecting Export (1% TCS and no GST) or exempt (no TCS and GST)?
Thank you!

An Exempt option, I would say no Tcs and Gst

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On 9/1/2021 at 12:15 PM, datapic said:

Hi all.

I'm a new seller and was creating my first gig yesterday.

When the question about "Select your 'TCS under GST' category" came up, I searched and found this thread, which was very helpful.

I also looked for other sources of information, and found the GST Council Website.

They have an FAQ  page, which has a link 'FAQs on TCS'. The link points to a PDF file. It is updated in 2018, but is the one presently available on their website. (So it must be current.)

The content of the GST Council's PDF on this matter is self-explanatory. In fact, this particular issue is highlighted in red in that PDF.

I have attached some screenshots for convenience.

Does this not make the issue clear? Please do comment.

(I chose 'Exempt' for the 'TCS under GST' category because of the above - and because I am exempt from Registration as per the GST Act/Rules/Notifications.)

 

GST1a.png

GST2a.png

GST3a.png

I just select Exempt option. Thank you so much

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