Most IMP : Ser Tax on Foreogn Fluctuation
This query is : Resolved
Anwar Shaikh
(Querist)
06 September 2009
Hi Experts,
Suppost I raise a bill on a foreign client in Jan 2009 & he pays me Rs.80 in Dec 2009, in full & final settelment of my claim (Due to foreign fluctuations)
In this case whether i required to pay service tax on Rs.100 or Rs.80/-
Can i claim Foreign fluctuation loss of Rs.20/-.
Suppost I raise a bill on a foreign client in Jan 2009 & he pays me Rs.80 in Dec 2009, in full & final settelment of my claim (Due to foreign fluctuations)
In this case whether i required to pay service tax on Rs.100 or Rs.80/-
Can i claim Foreign fluctuation loss of Rs.20/-.
CA. B.SRINIVASULU
(Expert)
06 September 2009
Service tax has to be paid on Rs.80 only and also you can claim the loss of Rs.20.
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