
Receiving INR payments in two Google accounts, one export (under LUT) and one domestic. How do I separate them for GST?
Hi everyone,
I need some advice on GST compliance for my business.
I receive payments into two different Google accounts, and both are settled in INR:
- Foreign client payments: This is export of services, and I’ve filed an LUT, so I shouldn’t have to pay GST on it.
- Indian client payments: This is domestic income, so GST applies.
Since both payments arrive in INR, I’m not sure how to clearly show which income is export (zero-rated under LUT) and which is domestic (taxable). Right now we’re paying GST on both to stay safe on compliance. It’s a small price to pay, but I’d like to do this properly and stop overpaying.
My questions:
- Does it matter that the foreign payment is credited in INR and not in foreign currency?
- Should I keep separate invoice series for export and domestic invoices?
- How should these be reported in GSTR-1 and GSTR-3B?
- Can I claim a refund or adjustment for the GST I’ve already paid on export income?
Has anyone been in a similar situation? Any guidance from CAs or people who’ve handled this would be really appreciated. Thanks!