Is export of services exempted from service tax?

Hi Experts,

I have a question, I'm resident of India and providing web development services outside India and raising invoice to the client in USD but when my client paid me the amount through his bank "Bank of America" he transfered in USD to my account, next day I got a NEFT in my account that was done by AXIS BANK in INR on clients name. He told me that AXIS BANK is the corrospondant bank of Bank of America in India. I would like to know that the payments I received is exempted from services tax in India?

This is all I want to know about. Really thankfull that you spent time on reading my question and replying the same.

Regards
Naren