Convertible foreign exchange income- service tax return fill

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Mr. Jamal (Querist)

20 January 2014 Hi,
Firstly thanks to all the helpful members on the forum.
My question is, If our income is in Convertible Foreign income and above 10 Lakhs, Do we need to file for service tax number and return even when service tax is not applicable. There is no Service income in INR.

Secondly, How to receive income in Convertible foreign exchange.(Just open regular account with bank and ask the client to send money in USD?)

Thanks

Annu Agarwal

Annu Agarwal (Expert)

20 January 2014 If you are providing a service specified in the exemption list or negative list then no need to pay service tax.but if it is a case of import of service and payment is received in convertible foreign exchange,then service tax liability.

Mr. Jamal

Mr. Jamal (Querist)

21 January 2014 It is export of service.(Software Development). My CA said service tax not applicable. So the questions I want to double confirm is that do i need to file service tax return.
Further more, If I raise invoice and the foreign company wire me the money in my account, is that acceptable for exemption.

Thanks a lot

Annu Agarwal

Annu Agarwal (Expert)

21 January 2014 Your CA is correct.No need to file servvice tax return.

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