TaxTMI 
TaxTMI 
Service Tax paid on Forward Contart to sell a Foreign Currency is refundable for a Export Unit.
Service Tax Refund
25 Aug 2011 
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Service tax refund on forward contracts for foreign currency questioned for entitlement by export units under applicable notifications.
Whether an export unit may obtain a service tax refund for tax paid on forward contracts to sell foreign currency is queried, focusing on classification of the activity as a taxable service described as purchase and sale of foreign currency including money changing and the effect of the cited service tax notifications on refund entitlement for export-related services. (AI Summary)
Whether an export unit may obtain a service tax refund for tax paid on forward contracts to sell foreign currency is queried, focusing on classification of the activity as a taxable service described as purchase and sale of foreign currency including money changing and the effect of the cited service tax notifications on refund entitlement for export-related services. (AI Summary)