As per new amendment in service tax the rate of exchage is the rate fof exchange as per GAAP.
How to determine the rate of exchange for purpose of service tax?
Please Help..
Menu
Rate of exchage
Replies (1)
I think now rate notified by RBI will be used because in GAAP we refer to RBI rate not CBEC rate.
2. Date of PoT will be considered for making reference to Exchange Rate.
PoT = Invoice or Payment, whichever is earlier.
In case of Advance : date of receipt of advance will be used to determine rate of exchange applicable.
In case of issue of invoice : date finalised as per PoT rules, will be used.
Recent Topics :
- Paper 6 - IBS
- Chhath Puja 2026 Dates Timing Tithi
- Tax Benefit on Second Property
- IPO application checklist: 18 rules that decide wh
- NSE IPO Price, GMP, Allotment Date and Listing
- Gst tax rate
- Cash deposited by customer
- CAPITAL GAIN REG
- Built a simple tool to automate client document fo
- Capital Gain on Sale of SRA Allotted Flat Received
Related Topics :
CAclubindia
