Does anyone know the process and contact details of Standard Chartard to get FIRC from them. I'm not able to claim GST refund as SC has not issued me any FIRC. Need urgent help
Thanks in advance.
I'd like to kindly ask freelancers located in India who have previous experience with obtaining FIRC from the bank in question to follow up and advise Amit on the required steps and procedure. Thank you.
As per my current understanding, in case of "Local Bank Transfer" mode of payment, the invoice amount is first converted into INR from upwork partner bank in US (Wells Fargo) and then transferred into Indian Bank (Standard Chartard Bank), which in-turn credit the amount into your bank via a NEFT transfer.
Now since the money in SCB is received in INR denomination, they would not be in a position to issue you a FIRC certificate.
The implicaiton of this would be that your invoices will not be considered as export of services and you shall be liable to pay 18% GST on your receipts.
Please note in case if you have received money by a wire transfer or in case if SCB has received your money in foreign currecny and then converted it into INR, they are legally liabile to provide you a FIRC certificate.
You need to check in your mode of payment how SCB has received the funds and proceed accordingly.
Hope my answer was helpful!
Were you able to figure out a way to avoid GST or get FIRC from Indian bank when we receive funds in local currency.
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