{IMPORTANT FOR EVERYONE} MUST READ
If you are receiving money out of India (In most of the cases it's true for
bloggers) then go your bank and ask for the FIRC.
FIRC (Foreign Inward Remittance Certificate) refers to a document which acts as
a testimonial for all the inward remittances entering to India.
Your bank will issue a FIRC certificate which proves that the money earned is
not from India.
Now you can submit that document to Indian service tax and GST department to
prove that it's a foreign payment.
What happens if you don't submit that document?
When I started my affiliate career in 2014, suddenly I made a lot of money in
2015-16. I was a complete newbie and I didn't know all these things, so I failed
to prove it.
Last week service tax department has sent me a notice with 634,000 INR fine.
and now I am rushing to my banks to collect my FIRC document.
So better you do it now before it's too late.
Go to your bank and ask for FIRC.
Note: The funny thing is - bank employees have zero knowledge about FIRC so you
need to find the right person in your bank who can help.
Originally posted by Kulwant Nagi on Facebook
link: facebook.com/groups/1484387451877279/user/673079431/
If you are receiving money out of India (In most of the cases it's true for
bloggers) then go your bank and ask for the FIRC.
FIRC (Foreign Inward Remittance Certificate) refers to a document which acts as
a testimonial for all the inward remittances entering to India.
Your bank will issue a FIRC certificate which proves that the money earned is
not from India.
Now you can submit that document to Indian service tax and GST department to
prove that it's a foreign payment.
What happens if you don't submit that document?
When I started my affiliate career in 2014, suddenly I made a lot of money in
2015-16. I was a complete newbie and I didn't know all these things, so I failed
to prove it.
Last week service tax department has sent me a notice with 634,000 INR fine.
and now I am rushing to my banks to collect my FIRC document.
So better you do it now before it's too late.
Go to your bank and ask for FIRC.
Note: The funny thing is - bank employees have zero knowledge about FIRC so you
need to find the right person in your bank who can help.
Originally posted by Kulwant Nagi on Facebook
link: facebook.com/groups/1484387451877279/user/673079431/