Exchange rate for depositing service tax
This query is : Resolved
28 February 2012
Dear all,
My company has received service from foreign service provider say for 10,000 Euro. Now as per Rule 2 (1) (d) my company has to deposit service tax on reverse charge basis @10.3% i.e. 1,030 Euro. At what exchange rate such service tax to be deposited with the department?
Please reply as early as possible?
My company has received service from foreign service provider say for 10,000 Euro. Now as per Rule 2 (1) (d) my company has to deposit service tax on reverse charge basis @10.3% i.e. 1,030 Euro. At what exchange rate such service tax to be deposited with the department?
Please reply as early as possible?
28 February 2012
The exchange rate will be based on the latest point of taxation rules. In your case, the date of raising of invoice by foreign service provider or payment done by your company whichever is earlier need to be considered for exchange rate purposes.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Itr 1 processing
- Off Market debit and credit transaction
- Showing Gift from relative in ITR for this year
- ITR returnFY25-26
- ITR 2 Short Term gain & Long term gain
- INCOME TAX ON REDEVELOPEMENT OF FLAT
- Form 10E u/s 89(1). Need clarification because experts opinions differ !!!!
- Share accounting-->fifo - capital gain - period as per fifo?
- ITR selection for salaries and capital gain less than L
- Short Term Capital gain on shares bought and sold after 2018 onwards
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
