satya (CHARTERED ACCOUNTANT) (42 Points)
04 February 2011Hi,
As per provisions of taxable service, it shall be considered as export of service only when payment of such service is received in convertible foreign exchange.....................whether the foreign remittannce should be received with in 180 days or not? If yes, not received with in 180 days what are consequences?
Pankaj Arora
(Learner)
(3134 Points)
Replied 04 February 2011
In service tax its not mention that payment should be received with in 180 days or not. But payment should be recd. in foreign currency for taking export benefits.
rachit jain
(chartered accountant )
(635 Points)
Replied 04 February 2011
consequences of delay- under income tax company will not be allow certain exemption u/s 10 A and 10B and under FEMA rbi may impose certain penaltyc.
| Originally posted by : Pankaj Arora | ||
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In service tax its not mention that payment should be received with in 180 days or not. But payment should be recd. in foreign currency for taking export benefits. |
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