Dear Sir,
We are providing Tour/ Travel agents service. We are collecting service tax from parties @ 2.575% i.e(after abatement of 75%).
We got US dollars for services and we have opened an account in India in US dollar and we have credited the same in the USD account. We have converted a portion of the same into Indian Rupee and transferred to our regular bank account. We paid service tax on the amount so converted. Whether we are required to pay service tax on the full amount deposited in our USD account.or any exemption available . if any exemption available please quote the notification no also.
Please give me urgent reply
CAclubindia
