![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]")
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...
![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]")
Expenditure of Premium of Redemption of Foreign Currency Convertible Bonds is Revenue in Nature: ITAT [Read Order]
The Mumbai Bench of the Income Tax Appellate Tribunal ( ITAT ) in the case of Strides Shasun Ltd. v. The ACIT held that the expenditure of premium of redemption of foreign currency convertible bonds...
No TDS since Amount paid to RMCs by Tour Operators for Purchase of Foreign Currency cannot be treated as Commission: ITAT [Read Order]
A division bench of Income Tax Appellate Tribunal, Mumbai recently declared that no TDS can be availed since amount paid to RMCs by Tour operators, for purchase of foreign currency cannot be treated...
![No TDS since Amount paid to RMCs by Tour Operators for Purchase of Foreign Currency cannot be treated as Commission: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/09/Tour-Operators-Service-Tax-Taxscan.jpg "No TDS since Amount paid to RMCs by Tour Operators for Purchase of Foreign Currency cannot be treated as Commission: ITAT [Read Order]")
![No GST on services supplied to Nepal against payment in Indian Currency [Read Notification]](https://www.taxscan.in/wp-content/uploads/2016/08/GST-Tax-Scan.jpg "No GST on services supplied to Nepal against payment in Indian Currency [Read Notification]")
Travel, Telecommunication Expenses & Ex-Pat Salary paid in Foreign Currency are Excludable from both Export & Total Turnover: ITAT [Read Order]
The division bench of the ITAT, Bangalore, in ACIT v. M/s Century Link Technology India Pvt. Ltd, has held that the payments made in foreign currency towards foreign travel, telecommunication expenses...
![Travel, Telecommunication Expenses & Ex-Pat Salary paid in Foreign Currency are Excludable from both Export & Total Turnover: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/04/Travel-Abroad-Taxscan.jpg "Travel, Telecommunication Expenses & Ex-Pat Salary paid in Foreign Currency are Excludable from both Export & Total Turnover: ITAT [Read Order]")
Loss / Gain on Foreign Currency Translation are not subject to Income Tax: Allahabad HC [Read Judgment]
A division bench of the Allahabad High Court, in CIT v. Jayaprakash Industries Pvt Ltd, held that the difference on foreign currency translation which is notional debit/credit, did not represent any...