TaxTMI 
TaxTMI 
TaxTMI 
Foriegn currency Exchange earnings- Vat Applicable or Not
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....oriegn currency Exchange earnings- Vat Applicable or Not<br> Query (Issue) Started By: - Binu Karuthedath Dated:- 31-12-2016 Last Reply Date:- 27-1-2017 VAT + CST<br>Got 3 Replies<br>VAT / Sales Tax<....
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....br>Dear Sir One of the direct exporters have received the excess amount from the foreign currency conversion to INR and exporter have shown this as exchange difference income in their books and also....
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.... 13 & 13 A Statement. Excess amount they have received due to foreign currency exchange rate difference(USD to INR) .is this applicable VAT ? is there any case law regarding this Reply By Ganeshan K....
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....alyani: The Reply: In my view vat is not applicable on exchange rate fluctuation gain /loss. Reply By MARIAPPAN GOVINDARAJAN: The Reply: VAT is not applicable. Reply By YAGAY AND SUN: The Reply: ....
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.... There is no tax on Export except few scenario. Gain/loss due Foreign Exchange fluctuations needs to be accounted for according to Indian Accounting Standards. No VAT is chargeable provided you submit....
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.... Copies of the S/Bs, B/L, EBRC to the VAT Authorities at the time of assessment.<br> Discussion Forum - Knowledge Sharing ....