Friends
We exported services without payong output serviec tax in May 2011 in accordance with Rule 4 and Rule 3(1) of Export of Services Rules 2005 and raised export invoice on foreign client. Now the export proceeds have not come into India in convertible foreign exchange within 1 year from date of export ie May 2012.
Under such scenario are we liable to pay output serviec tax now as per Rule 7 of Point of Taxation Rules 2011 read with Rule 3(2) of Export of Services Rules, 2005.
Please enlighten.
Regards,