Hello, I'm from Kerala- India, and starting a software development firm. I need some clarifications regarding the tax and export code. For some reasons we will not get an advice from a CA. Our business - Do iPhone development, web development and desktop application development for foreign customers (Especially US, Canada and Australia). We transfer the final work/code to the clients by online. No physical transfer. - We don't make any software products, only customizable applications based on customer requirement. - We are using PayPal for payment processing and all funds comes into our bank account. Sometimes, the payment is directly to current account using SWIFT. - We are not not dealing with any local customers. We have - Registered partnership deed. - Office, but not in any software parks or SEZs. - PAN card in the name of our business. - Business PayPal account (PAN attached) - Municipal license. - Current account in the name of our business. My Questions (We are in Kerala, India) - Need VAT registration? - Need Service Tax registration? - Need IEC (Import Export Code) for doing our business? - Any other TAX/Licence needed? Thanks SpiceMint
What were you expecting? That all the chartered accountants in Kerala would leap onto the thread and offer you free advice??? Get an accountant. And be very aware that there are only 2 certainties in life. Death and taxes
I'm really sorry for starting this thread. I'm going to hire a chartered accountant for clearing my doubts.