Exemption when Payment for services received in convertible foreign exchange - 021/03 - Service Tax

Rescinded with effect from 15th March 2005 vide notification no. 10/2005-ST dated 3rd March 2005

Exemption when Payment for services received in convertible foreign exchange

[Notification No. 21/2003-S.T., dated 20/11/2003]

In exercise of the powers conferred by Section 93 of the Finance Act, 1994 (32 of 1994), the Central Government, being satisfied that it is necessary in the public interest so to do, hereby exempts the taxable services specified in sub-section (105) of section 65 of the said Act, provided to any person in respect of which payment is received in India in convertible foreign exchange, from the whole of the service tax leviable thereon under section 66 of the said Act.

Provided that nothing contained in this notification shall apply when the payment received in India in convertible foreign exchange for taxable services rendered is repatriated from, or sent outside, India.