Funds From U.S.
This query is : Resolved
31 March 2009
Dear Sir,
I am providing service to a US company and I am not doing any local business . We are receiving the funds from US in One of my employees account and he is crediting the same to company's account.I want to know can the Govt claim it as a local income and charge service tax on it.
Thanks.
I am providing service to a US company and I am not doing any local business . We are receiving the funds from US in One of my employees account and he is crediting the same to company's account.I want to know can the Govt claim it as a local income and charge service tax on it.
Thanks.
31 March 2009
The Export of services is exempted if
Services provided outside india and Invoice raised in Foreign currency and amount received in convertible Foreign exchange with in specified period . Are u satisfying the Conditions
Services provided outside india and Invoice raised in Foreign currency and amount received in convertible Foreign exchange with in specified period . Are u satisfying the Conditions
01 April 2009
The funds has to be received to the account of the service provider in convertiable foreign exchange and FIRC should mention those details like Bill no. .
If invoice is one name and receiver is the other person how you can match. There should be matching principle.
You are following a dangerous procedure and the service tax department can say you have provided service in INDIA and in turn he has exported.
And in whose name the service tax registration.
Kinldy take quick steps to rectify the mistakes happened otherwise you will be caught by service tax department.
The funds has to be received to the account of the service provider in convertiable foreign exchange and FIRC should mention those details like Bill no. .
If invoice is one name and receiver is the other person how you can match. There should be matching principle.
You are following a dangerous procedure and the service tax department can say you have provided service in INDIA and in turn he has exported.
And in whose name the service tax registration.
Kinldy take quick steps to rectify the mistakes happened otherwise you will be caught by service tax department.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- REGARDING GST ON COMMERICIAL PROPERTY
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- GST on export of services and Input Credit
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- TDS U/S. 194NF
- ITC temporary reversal and reclaim
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- Applicable TDS rate for sale of property in Nov 2024
- Donation Receipt u/s 80G
- MIS MATCH OF INVOICE NUMBER
- VERIFICATION OF REFUND RELATED
- GST Regis.
- ITC c/f from FY2022-23 to FY2023-24 entered the same in table 8C of GSTR9 of FY 2022-23, in FY23-24
- Late filling fees Demand by gst office
- IGST Credit-Show cause notice issued-confusion
- Short and Excess provision of expenses
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
Trending Online Classes
CAclubindia
