anybody can please tell whether the proceeds of export of service need to be received in foreign currency itself or a fund transfer from foreign bank of client received in rupees is sufficient to claim exemption?
anybody can please tell whether the proceeds of export of service need to be received in foreign currency itself or a fund transfer from foreign bank of client received in rupees is sufficient to claim exemption?
Dear Sudarsan,
Why this confusion?
Foreign curency in physical form or through Bank transfer is a foreign currency. Are you confused with the definition of "currency" as given in FEMA or earlier FERA??????
Obviously both the above route qualify for exemption; subject to other conditions stated in Service Tax.
In fact between two, Bank transfer is easier to be proved at the time of assessment service tax case.
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
View Details
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
View Details
CAclubindia
