![Foreign Exchange Derivative Losses can be allowed for Deduction as it is Notional Loss: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/06/Foreign-exchange-derivative-losses-deduction-notional-loss-ITAT-Taxscan.jpeg "Foreign Exchange Derivative Losses can be allowed for Deduction as it is Notional Loss: ITAT [Read Order]")
Foreign Exchange Derivative Losses can be allowed for Deduction as it is Notional Loss: ITAT [Read Order]
The Ahmedabad Bench of Income Tax Appellate Tribunal (ITAT) comprising Shri P M Jagtap, accountant member and Shri Siddhartha Nautiyal, Judicial...
![No evidence of Payment in Foreign Currency to Foreign Personnel: CESTAT deletes Order imposing Service Tax under RCM [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/10/foreign-currency-CESTAT-Service-Tax-RCM-taxscan.jpg "No evidence of Payment in Foreign Currency to Foreign Personnel: CESTAT deletes Order imposing Service Tax under RCM [Read Order]")
![Foreign Currency is not a ‘Commodity’ to invoke provisions relating to Speculative Transactions: ITAT grants Relief to Lifestyle International [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/04/Foreign-Currency-commodity-Speculative-Transactions-ITAT-Lifestyle-International-Taxscan.jpeg "Foreign Currency is not a ‘Commodity’ to invoke provisions relating to Speculative Transactions: ITAT grants Relief to Lifestyle International [Read Order]")
![18% GST on Commission Income from Japan in Foreign Currency on Selling of Machinery: AAR [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/01/GST-on-commission-income-from-Japan-foreign-currency-Selling-of-machinery-AAR-Taxscan.jpg "18% GST on Commission Income from Japan in Foreign Currency on Selling of Machinery: AAR [Read Order]")
Bonafide Export of Foreign Currency without Permission of RBI: CESTAT releases confiscated Currency imposing Fine [Read Order]
The Customs, Excises, Service Taxes Appellate Tribunal (CESTAT), Ahmedabad Bench while releasing confiscated Currency by imposing Fine held that the bonafide export of foreign currency was without...
![Bonafide Export of Foreign Currency without Permission of RBI: CESTAT releases confiscated Currency imposing Fine [Read Order]](https://www.taxscan.in/wp-content/uploads/2020/12/Bonafide-Export-of-Foreign-Currency-RBI-CESTAT-confiscated-Currency-Fine-Taxscan.jpg "Bonafide Export of Foreign Currency without Permission of RBI: CESTAT releases confiscated Currency imposing Fine [Read Order]")
![RBI now empowered to restrict Export or Import of Currency [Read Notification]](https://www.taxscan.in/wp-content/uploads/2020/12/RBI-import-of-currency-Foreign-Currency-Taxscan.jpg "RBI now empowered to restrict Export or Import of Currency [Read Notification]")
![CBDT issues clarification on TDS from Salaries during FY 2020-21 [Read Circular]](https://www.taxscan.in/wp-content/uploads/2020/12/CBDT-TDS-Salaries-FY-2020-21-Taxscan.jpg "CBDT issues clarification on TDS from Salaries during FY 2020-21 [Read Circular]")
Developers now entitled to drawback claims if supplies from Domestic Tariff Area to foreign suppliers are in foreign currency: Central Govt. [Read Notification]
The Central Government notified the Special Economic Zones (Amendment) Rules, 2020 so as to amend the Special Economic Zones Rules, 2006. With the coming up of this notification, the Developers...
![Developers now entitled to drawback claims if supplies from Domestic Tariff Area to foreign suppliers are in foreign currency: Central Govt. [Read Notification]](https://www.taxscan.in/wp-content/uploads/2020/11/Domestic-Tariff-Area-foreign-suppliers-foreign-currency-Central-Government-Taxscan.jpg "Developers now entitled to drawback claims if supplies from Domestic Tariff Area to foreign suppliers are in foreign currency: Central Govt. [Read Notification]")
Brokerage received by Reinsurance Broker in Indian Rupees treated as receipts for Export in Foreign Currency, No Service Tax applicable: CESTAT [Read Order]
The Customs, Excises, Service Taxes Appellate Tribunal (CESTAT) in the light of the decision of the High Court of Madras has decided that the amounts which have been retained as a brokerage in Indian...
![Brokerage received by Reinsurance Broker in Indian Rupees treated as receipts for Export in Foreign Currency, No Service Tax applicable: CESTAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2020/04/WhatsApp-Image-2020-04-16-at-12.12.16-PM.jpeg "Brokerage received by Reinsurance Broker in Indian Rupees treated as receipts for Export in Foreign Currency, No Service Tax applicable: CESTAT [Read Order]")
Value of Supply under Foreign Currency Billing to be determined as per notified Exchange Rate: AAR [Read Order]
Uttarakhand AAR held that the value of goods supplied within India and billing is done in foreign currency, shall be determined under Rule 34 of Central Goods and Service Tax (CGST) Rules, 2017 and...
![Value of Supply under Foreign Currency Billing to be determined as per notified Exchange Rate: AAR [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/04/Foreign-Currency.jpg "Value of Supply under Foreign Currency Billing to be determined as per notified Exchange Rate: AAR [Read Order]")
![Govt reconstitutes Advisory Board of COFEPOSA [Read Notification]](https://www.taxscan.in/wp-content/uploads/2020/03/site-image3-18-5.jpg "Govt reconstitutes Advisory Board of COFEPOSA [Read Notification]")