GST for Consultants and Freelancers
Service providers often face confusion regarding GST applicability. While the threshold for goods is 40 Lakhs, for service providers, it remains at 20 Lakhs in most states.
However, if you are exporting services (e.g., freelancing for overseas clients), you must obtain GST registration regardless of turnover to claim LUT (Letter of Undertaking) benefits and avoid IGST payments.
Key Forms
- GSTR-1: For outward supplies (monthly or quarterly).
- GSTR-3B: For tax payment and ITC claim.