Hi
Is there any optional rate of service tax for business for foriegn currency exchange?
Regards and thnx in advance
Parth Verma
CA IPCC
CA Parth Verma (NYU Stern Alumni ) (90 Points)
02 June 2010Hi
Is there any optional rate of service tax for business for foriegn currency exchange?
Regards and thnx in advance
Parth Verma
CA IPCC
Manoj BG
(Tax Professional and in Service)
(1795 Points)
Replied 03 June 2010
Hi parth,
U may refer to Notification no. 19/2008 wherein it is stated that foreign exchange broker including AD shall have the option of paying ST on the total value of purchase/ sell @ 0.25% of the transaction value i.e. purchase value or sell value.
Regards,
Manoj
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