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
- ITR 2 Short Term gain & Long term gain
- Reporting Income under Section 44ADA
- Off Market debit and credit transaction
- Itr 1 processing
- Share accounting-->fifo - capital gain - period as per fifo?
- INCOME TAX ON REDEVELOPEMENT OF FLAT
- ITR returnFY25-26
- Short Term Capital gain on shares bought and sold after 2018 onwards
- ITR validation error - Balance sheet is not filled
- ITR 1: Details for showing Exempt Income
- Article ship defecit
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- 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
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
