service tax urgent
This query is : Open
06 February 2017
hi. I've started a new proprietorship firm and work individually for a company outside India. I do not require to employ anyone for my work. My CA suggested I don't have to pay service tax as I'm not employing anyone. is that true? under what act? also I'm on a contract with the person who I'm doing service for.
CA R SEETHARAMAN
(Expert)
06 February 2017
It is not true. Service tax applicable if you provide alone without employing any body any taxable service. Tell me the nature of service and where the service is provided.
CA R SEETHARAMAN
(Expert)
06 February 2017
Good. the service is provided to a client out side India and payment is received in foreign currency, then it is considered as export of service and no service tax applicable.
CA R SEETHARAMAN
(Expert)
06 February 2017
Yes FEMA Act applicable here any export of goods or services payment should be received in foreign exchange.
06 February 2017
so what exactly does it imply to me? do I have to pay any seperate tax for it?
CA R SEETHARAMAN
(Expert)
06 February 2017
If you mean FEMA No separate tax payable for it.
06 February 2017
it's just that it will be covered and people will know that income has been recieved from foreign sources. I don't really know much about it
CA R SEETHARAMAN
(Expert)
06 February 2017
The main condition is for all export of goods and services is the payment should be received in foreign currency routed through banking channels.
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
- GST REFUND ISSUE ON PURCHASE OF PLANT AND MACHINERY
- WRONG GSTR7 ENTRIES ACCEPTED ERRONEOUSLY
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- 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
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
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
