money changer service tax return

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....oney changer service tax return<br> Query (Issue) Started By: - satbir singh wahi Dated:- 17-8-2013 Last Reply Date:- 6-5-2015 Service Tax<br>Got 2 Replies<br>Service Tax<br>A money changer is registered under banking and finance services category. While filing service tax return for Oct 12 to march 2013.Rate of service tax was mentioned as.12 in Bi.15 as for Rupees1 lac transaction they have the ....

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....option to pay 120 . However return was rejected because of the reason that this rate is not valid for Banking and finance services category. This category is not covered in notification relating to abatement also. Should value of Services provided be taken as one tenth of original value .Specific rates are applicable and to be shown in B1.16. This is in terms of Rule 6, sub-rule 7B whish is reprod....

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....uced herebelow. (7B). The person liable to pay service tax in relation to purchase or sale of foreign currency, including money changing, shall have the option to oay an amount calculated at the following rate towards discharge of his service tax liability instead of paying service tax at the rate specified in section 66B of Chapter V of the Act, namely:] (a) [0.12 per cent. of the gross amount ....

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....of currency exchanged for an amount up to rupees 100,000, subject to the minimum amount of [rupees 30] and; (b) rupees [120 and 0.06 per cent. of the gross amount of currency exchanged for an amount of rupees exceeding rupees 100,000 and up to rupees 10,00,000; and (c) rupees [660 and [0.012] per cent.] of the gross amount of currency exchanged for an amount of rupees exceeding 10,00,000, subjec....

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....t to maximum amount of rupees [6000]: Kindly guide how data be filled in ST-3 Reply By MARIAPPAN GOVINDARAJAN: The Reply: Have you got clarified and filed the return ST-3? Reply By satbir singh wahi: The Reply: Sir no reply received till date. But hv filed return by taking amount of service tax and grossed up taking 12.36.Pls guide.<br> Discussion Forum - Knowledge Sharing ....