Service Tax on purchase and sale of foreign currency
This query is : Resolved
26 March 2009
Need information on the applicability and the interpretaion to be taken on teh applicability of service tax on purchase and sale of foreign currency including money changing provided by foreign exchange broker including an dauthorised dealer in foreign exchange or an authorised money changer.
I am refering to Notification No 19/2008- Service tax
Early replies will be of define help
I am refering to Notification No 19/2008- Service tax
Early replies will be of define help
26 March 2009
The person liable to pay service tax can pay the tax @0.25% of the gross value of money exchange (say 100$ @ Rs.50 so on Rs.5000) instead of 10.3% of the gross value if the charges of money changer are not seperately shown in invoice.
If charges/commission is seperately showned on invoice then service tax should be paid @10.3% of such charges or commission.
If charges/commission is seperately showned on invoice then service tax should be paid @10.3% of such charges or commission.
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
- About TDS & Income Tax
- PPF interest-As Exempt Income disclosure
- Scrutiny and reopening of past returns
- Tax on Deemed Capital Gain
- Section 194JA & JB Income which ITR Form to use
- Pass word to open justification report for Q1 for FY 2026-27
- Type of Capital Gain
- Regarding ITR filing with more value than showing in AIS/TIS
- F & O PROFIT REPORTING FOR AY 2026-27
- Booth for sales promotion
- Difff in ais receipts and gst turnover
- ITR-3 File/Error Found
- Exiting partner in partnership firm in gst portal
- Taxability of credit in canara bank ET & T section (NRO)
- Consequences of Non-Deduction of TDS under Income Tax???????????????
- TDS on Rent received on redevelopment of building
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
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
