Export realisation condition in case of export of service
This query is : Open
Swapnil Munot
(Querist)
28 September 2012
Hello Friends,
Please clarify me on below points w.r.t Export realization in case of export of service.
- As per Rule 6A of Service Tax Rules 1994, service shall be treated as export of service, if payment for such service is received in convertible foreign currency. I want to know whether there is any time limit prescribed for realization??. If yes, then please let me know the circular no.
- If there is any such time limit, what if, realization is received after prescribed time limit. whether in such case, service tax will be payable on export of service.
Please post your answer.
Swapnil Munot
Please clarify me on below points w.r.t Export realization in case of export of service.
- As per Rule 6A of Service Tax Rules 1994, service shall be treated as export of service, if payment for such service is received in convertible foreign currency. I want to know whether there is any time limit prescribed for realization??. If yes, then please let me know the circular no.
- If there is any such time limit, what if, realization is received after prescribed time limit. whether in such case, service tax will be payable on export of service.
Please post your answer.
Swapnil Munot
U S Sharma
(Expert)
05 October 2012
180 days is the limit set by RBI and ministry of Foreign trade (from where you got IEC code)
in case of services, the BRV is only document which can be relied upon regarding the genuine ness of export,
in case the payment is recd beyond 180 days, the exporter has to obtain permission from RBI for extension, and on production of such communicatin , the ST department also can belive that its genuine.
in case of services, the BRV is only document which can be relied upon regarding the genuine ness of export,
in case the payment is recd beyond 180 days, the exporter has to obtain permission from RBI for extension, and on production of such communicatin , the ST department also can belive that its genuine.
Swapnil Munot
(Querist)
16 October 2012
Can you please tell me RBI circular no. which says about 180 days ???
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