Our Services
Export / Import of Services

After going through the Negative List of Services, Mega Notifications For Exemption Of Services, Declared Services Partially / Fully Reverse Charge Mechanism, Place Of Provision Of Services and such new amendment of service Tax Law from 01/07/2012 and the latest amendments upto the end of year 2016 and updates, we properly guide in the matter. Export of Services normally means Services provided outside India and the payment is received in convertible foreign exchange. The meaning of Export of Service has changed from time to time. No service tax is payable on Export of Service. When services are provided from outside India and received in India, then such services are called "Import of Services" . Similarly the meaning of Import of Service has also changed from time to time. When it is Import of Service, the Recipient of Service is liable to pay Service Tax instead of Service Provider. This is called "Reverse Charge Mechanism" There has been tremendous changes in system of export and import services from 01/07/2012. A service is taxable only when it is "provided (or agreed to be provided) in the taxable territory". Upto 30.06.2012 'Export of Services, Rules, 2005' and 'Taxation of Services (Provided from outside India and received in India) Rules, 2006 both the Rules were applicable. However, from 01.07.2012 the taxability of a service will be determined based on the "place of its provision". And hence the old Rules will be replaced by The 'Place of Provision of Services Rules, 2012'. Through our long experience we can guide our client to take the necessary benefits from the Rules.

 

PARAS SHAH & CO.
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