Difference in Service tax due to fluctuation in currency
This query is : Resolved
23 March 2010
Dear Experts
Service bill inclusive tax was raised in USD on 25th February at Exchange rate Rs.45.06/USD. Payment received on 23rd March at Rs.45.147/USD.
How to calculate service Tax payable due.
Please advise
Service bill inclusive tax was raised in USD on 25th February at Exchange rate Rs.45.06/USD. Payment received on 23rd March at Rs.45.147/USD.
How to calculate service Tax payable due.
Please advise
CA. B.SRINIVASULU
(Expert)
23 March 2010
Service tax is payable on the original bill value only. On exchange fluctuation gain you need not pay service tax.
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