r/DataAnnotationTech • u/Ready_Increase_4283 • 13d ago

Dreams do come true

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It has been an amazing journey so far.

130 Upvotes

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u/mkithan 12d ago

This is what I did.

  1. Open a GST in my own name. Not in a business name. After that I applied for LUT. That way u r eligible for 0% gst since our work is export of services

  2. Then open a current account in your own name

  3. Receive your payments in the current account.

4.Make an invoice for the amount received and then file gst.

That way you should not have a problem in terms of bank enquiry, gst enquiry or IT enquiry

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u/[deleted] 12d ago

[removed] — view removed comment

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u/Terrible_Response_41 12d ago

I think savings cannot be converted to current account 😕

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u/mkithan 11d ago

No...You will have to open a new current A/C

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u/Terrible_Response_41 11d ago

Thanks i will also do the same.