Saturday 25 May 2024

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Society | Diaspora

No service tax imposition on NRI remittances


In a major decision, Government of India has reversed its stand to impose service tax on remittances by Non Resident Indians from 1 July this year.

A press note issued by the office of Commissioner of NRI in Goa states that 12.36 per cent service tax would not charged.

A clarification to this effect has been received by the Commissioner NRI Affairs from Union Minister of State for Finance S S Palanimanickam, stated Dr Wilfred Mesquita, the Commissioner for NRI Affairs.

The letter in this regard is dated 08/08/2012, along with a circular issued to this effect  to all revenue authorities in India.

Dr Mesquita had  taken up the matter with the Prime Minister of India   for review of the decision to levy service tax on remittances by NRIs.

The reported decision of  the Government of India, Ministry of Finance to impost 12.36%  Service Tax on remittances by NRIs w.e.f. 01/07/2012 had generated tremendous resentment among the Goan public in general and the Overseas Goan Community in particular.

This is because most of the families of Goans who are employed in the Gulf on lowly paid jobs, depend upon their remittances to support the household and education to their children. is now on Telegram & also Youtube. Kindly subscribe for free & remain updated.

Total Comments :1

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How about imposing tax on cores of crores of rupees, that are in forign banks? is govt. have come up with an idea ? may be not. it's better to tax the corrupt money as mostly we pay our taxes to the country we recieve our salary. and it's not fair to have two taxes on one salary.

cliff , panjim