India-native entity Foo Falcon Tech Pvt Ltd · CIN U72900KA2022PTC163007 47 engineers paid · Apr 2026 14 US/UK companies on the entity 0 notices since founding 4 yrs on the books 5-day contractual Go-Live SLA $149/employee/month · first month free PF · ESI · S&E across all 28 states + 8 UTs Income Tax Act 2025 · Form 130 ready DPDP Act 2023 · 24-hr breach SLA
India Contractor · India GST + IT compliance · Versatile

India contractor · India GST + IT compliance.

India GST on services exports (zero-rated under LUT), Income Tax compliance (TDS withholding under Section 194J/194O), and the documentation that survives both audits. Versatile holds the LUT.

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4 yrs On the books
47 Engineers paid · Apr 2026
14 US/UK companies on the entity
0 Notices since founding
Foo Falcon Pvt Ltd · CIN U72900KA2022PTC163007 · Incorporated 28 Jun 2022
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GST on services exports is zero-rated under a Letter of Undertaking.

Services exported from India to a foreign client are zero-rated under India GST law, provided the exporter holds a valid Letter of Undertaking (LUT) with the GST department. Without the LUT, the exporter would have to charge 18% GST and then claim a refund. a multi-quarter cash-flow drag. Versatile holds an active LUT, files monthly GSTR-1 and GSTR-3B, and issues a clean zero-rated invoice to your foreign entity. Income Tax compliance runs in parallel: TDS withholding at the specialist level, quarterly returns, and Form 16A issuance.

LUT, zero-rated services exports

Versatile's Letter of Undertaking with the GST department keeps services exports to foreign clients zero-rated. Renewed annually.

GSTR-1 + GSTR-3B, monthly

Outward supplies return and consolidated return filed monthly via the GST portal. Reconciliation with input credit register maintained.

Section 194J TDS, 10% professionals

Income tax withheld at 10% on professional fees to the contractor. Threshold ₹30K per year per payee.

Section 194O TDS, 1% e-commerce

For e-commerce contractor arrangements, 1% withholding applies. Versatile structures the engagement against the correct section.

Form 16A, quarterly to contractor

Issued via TRACES portal every quarter for TDS withheld. Contractor reconciles with Form 26AS at annual filing.

Audit documentation, cross-referenced

Every invoice cross-referenced to GST return and TDS challan. Audit walkthrough survives both GST and IT department reviews.

ItemVersatile handles
LUT statusActive, GST department
Invoice GST treatmentZero-rated services export
TDS section194J (professionals) or 194O (e-commerce)
Form 16A issuanceQuarterly via TRACES
Annual income tax filing supportContractor responsibility, Versatile provides Form 16A

GST + IT compliance, handled at the source.

Versatile Contractor of Record · $19 per contractor per month · USD invoicing

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Questions we hear most.

Why does Versatile hold the LUT instead of the contractor?
Individual freelancers exporting services can hold their own LUT, but the GST compliance overhead (annual renewal, monthly filings, refund cycles) is heavy for a solo freelancer. With Versatile as the contracting entity, our LUT covers the services export and the contractor focuses on the work.
Yes. The contractor files annual personal income tax return (ITR-3 or ITR-4 depending on structure) and reports the income from Versatile. Versatile's Form 16A reconciles with their Form 26AS. The contractor pays the balance tax (if any) or claims refund.
If annual turnover from all sources crosses ₹20 lakh (₹10 lakh for special category states), the contractor must register for GST. If they only receive payments through Versatile and have no other India revenue, they can stay below the threshold. We advise on this at engagement.
Then they take on the LUT compliance, the TDS reconciliation, the GST registration question, and the misclassification exposure themselves. Most contractors prefer routing through Versatile for the simpler personal compliance.

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