Funds From U.S.
This query is : Resolved
31 March 2009
Dear Sir,
I am providing service to a US company and I am not doing any local business . We are receiving the funds from US in One of my employees account and he is crediting the same to company's account.I want to know can the Govt claim it as a local income and charge service tax on it.
Thanks.
I am providing service to a US company and I am not doing any local business . We are receiving the funds from US in One of my employees account and he is crediting the same to company's account.I want to know can the Govt claim it as a local income and charge service tax on it.
Thanks.
31 March 2009
The Export of services is exempted if
Services provided outside india and Invoice raised in Foreign currency and amount received in convertible Foreign exchange with in specified period . Are u satisfying the Conditions
Services provided outside india and Invoice raised in Foreign currency and amount received in convertible Foreign exchange with in specified period . Are u satisfying the Conditions
01 April 2009
The funds has to be received to the account of the service provider in convertiable foreign exchange and FIRC should mention those details like Bill no. .
If invoice is one name and receiver is the other person how you can match. There should be matching principle.
You are following a dangerous procedure and the service tax department can say you have provided service in INDIA and in turn he has exported.
And in whose name the service tax registration.
Kinldy take quick steps to rectify the mistakes happened otherwise you will be caught by service tax department.
The funds has to be received to the account of the service provider in convertiable foreign exchange and FIRC should mention those details like Bill no. .
If invoice is one name and receiver is the other person how you can match. There should be matching principle.
You are following a dangerous procedure and the service tax department can say you have provided service in INDIA and in turn he has exported.
And in whose name the service tax registration.
Kinldy take quick steps to rectify the mistakes happened otherwise you will be caught by service tax department.
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
- Fixe term employment
- Is any professional CA is here please reply
- Foreign lottery ticket bought online from India: legality, tax and consequences
- Experts need help
- Section 50-fixed asset-->building ceases to exist
- EXPORT BILL UNDER LUT FREIGHT CHARGE INCLUED IN INVOICE IT LIABLE TO TAX
- Putting a heading on received mail
- Gift Received from nonblood relative
- Tax Audit u/s 44AB for Transport Business A proprietorship is engaged in transportation business and
- Reprocessing of rectification order AY 2025-26
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
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
