Dear Sirs,
In our case we are doing the business of tour operator. We are maintained a bank account in USD. In that account we received amount in foreign currency for doing tour operator services (not export)
. We remit service tax on this amount on the date of receipt itself. Later we convert the USD into indian rupees & transfer the same into bank account maintained in Indian Rupees. But on conversion we got exchange rate fluctuation profit. Whether we are required to pay service tax on foreign exchange fluctuation profit? please help me
CAclubindia
