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Exchange rate

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(Querist)
10 May 2013 What would b exchange rate if i am importing services and liable to pay service tax on RCM basis? At what rate of exchange liability of RCM would be determined?Please also tell the relevant sections/rules.
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CA Sourabh Agarwal

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CA Sourabh Agarwal (Expert)
10 May 2013 There is no legal requirement in this regard. You may take exchange rate in accordance with normal accounting policy of the company.

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