The Central Board of Excise and Customs has clarified that service tax will not apply to remittances to India in foreign currency or exchange commission and bank fee on such remittances. The Board said in a circular that there was no service tax per se on the amount of foreign currency remitted to India from abroad. Service excluded transaction in money. In terms of the Place of Provision of Services Rules,such services are deemed to be provided outside India and thus not liable to service tax.

The Board also clarified that even the Indian counterpart bank or financial institution, who charges the foreign bank or any other entity for the services provided at the receiving end, is not liable to service tax as the place of provision of such service shall be the location of the recipient of the service, that is, outside India. Minister for Non-resident Keralites Affairs K. Joseph had earlier taken up the issue with Prime Minister Manmohan Singh through Minister of State for External Affairs and Forex broker erfahrungen forum Service tax on forex in india Development E.

Service Tax on Export of the Services in India - MyOnlineCA

NATIONAL ANDHRA PRADESH KARNATAKA KERALA MUMBAI NEW DELHI OTHER STATES TAMIL NADU TELANGANA. Justice Karnan service tax on forex in india SC.

Service tax on forex transactions capped at Rs 5, | Business Standard News

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