Service Tax On The Money We Transfer To India...pls Confirm This News

[Mahesh_Fan]

The Centre on Tuesday decided to garner revenue by indirectly levying service tax on NRI remittances, a move that will eat into the earnings of lakhs of NRIs who regularly send money back home.

In a circular issued by the Central Board of Excise and Customs (CBEC), the government said banks and financial institutions which levy a fee or commission for facilitating the transfer of money from abroad will have to pay service tax.


"Assuming that Rs10 is the additional cost [transaction fee charged by money transfer agent] of every Rs 100 that an NRI sends, now only Rs 98.76 will be received for every Rs100 sent [after reducing 12.36% service tax on Rs10]," 

[Mahesh_Fan]

transfer chese prathi thousand ki 120 rupess tax kattaalanta ika nundi...

[Mahesh_Fan]

idi correshtey na?

[Mahesh_Fan]

ltt

[micxas]

:3D_Smiles:

[LungiLingaraju]

Pampinanduk US vaadu 10gi .. Teeskunanduk India 10gi inka migilindi endhi Bochu

[Mahesh_Fan]

deeni gurinchi more info telisthe post cheyyandi vay

[thedarkknight]

transfer chese prathi thousand ki 120 rupess tax kattaalanta ika nundi...

ne ban charge chese amount lo 12.36% kattali 

 

nuvu 1000rs transfer chesthe ne bank 10rs charge chesthe RS1.236 kattali

[puli_keka]

transfer chese prathi thousand ki 120 rupess tax kattaalanta ika nundi...

 

wrong..  12% of what that bank takes as commision

[Mahesh_Fan]

ok ..understood

[BillMarkSteve]

lift....

 

source link pls....

 

 

[arshad]

The Centre on Tuesday decided to garner revenue by indirectly levying service tax on NRI remittances, a move that will eat into the earnings of lakhs of NRIs who regularly send money back home.

In a circular issued by the Central Board of Excise and Customs (CBEC), the government said banks and financial institutions which levy a fee or commission for facilitating the transfer of money from abroad will have to pay service tax.


"Assuming that Rs10 is the additional cost [transaction fee charged by money transfer agent] of every Rs 100 that an NRI sends, now only Rs 98.76 will be received for every Rs100 sent [after reducing 12.36% service tax on Rs10]," 

 

 

Denamma.. US vadiki tax katti. Bank vadiki fee katti.. malli service tax... inkendi migiledi.. CHIPPA??

 

Chee bratuku... Kotlu kotlu egavesinollanu maatram light.. mana lanti kashta jeevulaku maatram pannulu.

[Hyderabad_Nawab]

transfer chese prathi thousand ki 120 rupess tax kattaalanta ika nundi...

+_(

 

The Centre on Tuesday decided to garner revenue by indirectly levying service tax on NRI remittances, a move that will eat into the earnings of lakhs of NRIs who regularly send money back home.

In a circular issued by the Central Board of Excise and Customs (CBEC), the government said banks and financial institutions which levy a fee or commission for facilitating the transfer of money from abroad will have to pay service tax.


"Assuming that Rs10 is the additional cost [transaction fee charged by money transfer agent] of every Rs 100 that an NRI sends, now only Rs 98.76 will be received for every Rs100 sent [after reducing 12.36% service tax on Rs10]," 

[Silent_Boy]

India lo agent tho transfer cheste.. you have to pay tax...  not for us.. We usually do with money transfer accounts..  

 

This only applies to who ever using third party agents in india.... (mainly soudi, dubai.. oman etc unde vallaki)

[ARYA]

transfer chese prathi thousand ki 120 rupess tax kattaalanta ika nundi...

neku lekkalu kuda rava...asalu pacchi mudda pappu la unnave indaka pakka taadu lo west coast ante vizag antav ikkada 1.26% ante 1000 ki 126 antav endi?