New Delhi: The government on Tuesday said remittances from abroad will not attract service tax, putting to rest the concerns raised in view of new tax norms.
"The matter has been examined and it is clarified that there is no service tax per se on the amount of foreign currency remitted to India from overseas," the Central Board of Excise and Customs (CBEC) said.
The clarification follows concerns over reports that there was a move to levy 12 per cent tax on money sent back home by Indians abroad under the changed service tax regime from July 1.
The government said remittances from abroad will not attract service tax, putting to rest the concerns raised in view of new tax norms.
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