https://www.taxtmi.com/forum/issue?id=2704 When the taxable value of a service is fixed using the exchange rate applicable at the point of taxation, that valuation is final and subsequent foreign exchange gains or losses do not affect the service tax liability; a rule provides that the exchange rate for valuation is the rate determined under generally accepted accounting principles on the point-of-taxation date. en-us Sat, 29 Jan 2011 12:54:30 +0530 Thu, 23 Jan 2025 15:58:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=2704 When the taxable value of a service is fixed using the exchange rate applicable at the point of taxation, that valuation is final and subsequent foreign exchange gains or losses do not affect the service tax liability; a rule provides that the exchange rate for valuation is the rate determined under generally accepted accounting principles on the point-of-taxation date. Discussion-Forum Service Tax Sat, 29 Jan 2011 12:54:30 +0530 https://www.taxtmi.com/forum/issue?id=2704