sale purchase FOREX

CA Shikha Sharma (Ceo) (3869 Points)

07 April 2019

why exemption provided for sale or purchase of foreign currency amongst banks,dealers of foreign exchange???

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6 Replies

Rahul Rustagi (Student CA Final ) (310 Points)
Replied 07 April 2019

Yes

CA Shikha Sharma (Ceo) (3869 Points)
Replied 07 April 2019

Rahul Rastogi read the question first I'm asking whyyyyy

Pankaj Rawat (GST Practitioner) (55030 Points)
Replied 07 April 2019

Its Taxable kindly Refer Rule 32 of CGST Act

CA Shikha Sharma (Ceo) (3869 Points)
Replied 07 April 2019

sir Pankaj it's exempt amongst banks it authorised dealers of forex but directors service to individual is taxed

Pankaj Rawat (GST Practitioner) (55030 Points)
Replied 08 April 2019

Yes correct !!! its Exempted .....

CA Shikha Sharma (Ceo) (3869 Points)
Replied 08 April 2019

but I wanted to know why is it so

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