Service tax on restricted money changer

CA.Mayank Mittal (Professional) (40 Points)

18 January 2013

Hi,

Please guide me.

Whether Service Tax will b eliable on Restrcted Money Changer?

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2 Replies

PARMITA MAZUMDER (CA- Practice) (386 Points)
Replied 19 January 2013

Yes service tax is liable on RMCs. What else information you need just let me know.

CA.Mayank Mittal (Professional) (40 Points)
Replied 19 January 2013

Originally posted by : PARMITA MAZUMDER
	Yes service tax is liable on RMCs. What else information you need just let me know.

As per Service Tax rules, purchase of Foreign currency from Public is covered under statue and purchase sale between Authorized dealer is excluded.

In my case RMC is not collecting ST as they have guidelines ssued from FFMC that they are not covered under ST statue.

So if you have any example or any specific quote for the applicability then please share.

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