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TMI BlogService tax liabilityX X X X Extracts X X X X X X X X Extracts X X X X ..... Service tax liability X X X X Extracts X X X X X X X X Extracts X X X X ..... t of the same service (import) but now the exchange rate is higher than the aforesaid custom rate. Please suggest, whether we have to create addition liability of service tax on account of payment made on higher exchange rate. K.Gopal-9911052902 Reply By sanjeev bajaj: The Reply: Second Provisio of Rule 7 of Point of Taxation Rules, 2011 clearly defines the point of taxation. Hence, earlier o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f two is the point of taxation in the case of assocated enterprise. Once, the point is determined and the value has been fixed then due to currency fluctuation, the same cannot be increase or decreased. Increase or decrease can be made according to Service Tax Rules, 1994 in case of renegotioaion, deficiency etc. further, the amount excess paid is due to currency fluctuation. Reply By MANDAVILLI ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... RAMAKRISHNA: The Reply: very good question. the excess amount to be paid due to exchange fluctuation and not towards additional services taken. so not required to pay additional tax. Reply By Krishan Gopal: The Reply: Sir, We are already paying service tax on addition amount due to exchange fluctuation from last three years now whether we should pay or not service tax on the same Krishan Gop ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... al
Reply By sanjeev bajaj:
The Reply:
Stop paying now X X X X Extracts X X X X X X X X Extracts X X X X
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