https://www.taxtmi.com/article/detailed?id=1172 Valuation for service tax on money changing is set by reference to the difference between the dealer's buying or selling rate and the Reserve Bank of India reference rate, multiplied by the units of currency, with prescribed fallback composition measures where RBI reference rates are unavailable or where neither currency is Indian rupee. A money changer may elect to pay tax by a reduced composition rate on the gross amount exchanged or at the standard rate on the reference rate based taxable value. en-us Tue, 01 Mar 2011 19:02:46 +0530 Tue, 01 Mar 2011 19:02:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=1172 Valuation for service tax on money changing is set by reference to the difference between the dealer's buying or selling rate and the Reserve Bank of India reference rate, multiplied by the units of currency, with prescribed fallback composition measures where RBI reference rates are unavailable or where neither currency is Indian rupee. A money changer may elect to pay tax by a reduced composition rate on the gross amount exchanged or at the standard rate on the reference rate based taxable value. Articles Service Tax Tue, 01 Mar 2011 19:02:46 +0530 https://www.taxtmi.com/article/detailed?id=1172