Service tax on foreign currency purchase
This query is : Resolved
25 January 2016
What is the rate of service tax on purchase of foreign currency as per latest rule?
Suppose, we have purchased $5000 @ 68.70 =Rs 343500. What will be the amount of service tax, pls explain in detail.
Suppose, we have purchased $5000 @ 68.70 =Rs 343500. What will be the amount of service tax, pls explain in detail.
25 January 2016
Service tax applicable at 140+ 0.07% on amount exceeding 1,00,000.
Service tax will be 140+171=311.
Refer Rule 6 (7b).
Service tax will be 140+171=311.
Refer Rule 6 (7b).
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