NRI alert: Your remittance to India is set to get more expensive

Remittances by Indian expats in the UAE and elsewhere in the world may get more expensive after a recent circular issued by the Central Board of Excise and Customs (CBEC) maintains that the commission that we pay to the service provider is liable to attract service tax in India.

Nevertheless, the increase, whenever it is enforced, will be marginal as the service tax is not on the amount of money remitted, but on the commission/fees that service providers charge, the CBEC maintains in the circular dated October 14, 2014...more

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