02 February 2011
Hi, Iam having a private company.It is exporting software development to UK.Presently the turnover is less than 9 lakhs.The amount gets converted into indian currencies and deposited into copmany account from the foriegn company bank account through Foriegn Inward Remmitances. Now we are planning to increase the turnover to 15 Lakhs. Do we need to register for service tax? Do this export of service get exemption??. What is convertible Foriegn Exchange???
18 February 2011
In my opinion you need not to get registered with service tax department , but if you want to claim from the Department for the service tax paid on input service , then you should get registered in different category, Foreign Exchange which is convertible in Indian Rupees. LIKE $ DOLLAR, POUND, EURO , YEN ETC.
CAclubindia
