Valuation of money changing services sets reference rate and fallback methods to compute taxable value for service tax.

Rule 2B prescribes valuation methods for money changing services: use the difference between the buying/selling rate and the RBI reference rate multiplied by currency units when a reference rate exists; apply a fallback fixed percentage valuation of gross rupee receipts when no reference rate exists; and where neither currency is the rupee, apply a fixed percentage valuation on the lesser converted amount at the RBI reference rate.

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