Dubai - The Indian Government has not started levying the proposed 12.36 percent service tax on the fee paid by Non-Resident Indians (NRIs) for sending money back home.
The new service tax by India's Ministry of Finance and its Department of Revenue was supposed to come into force from Sunday, July 1.
Money exchange centres and prominent Indian banks operating in the United Arab Emirates said that they had not received any official communication about the proposed tax.
"Since the money exchange centres working in the UAE do not come under the jurisdiction of the Indian tax regulations, we don't expect any official communication from the Government of
India but from the corresponding banks," an official at the Foreign Exchange and Remittance Group - UAE, said.
According to The Gulf News, some also suggested that the Indian Government might have put the move on hold due to widespread protests from politicians and NRI organizations across the globe.
Vayalar Ravi, the minister of Indian Overseas Affairs, said that he was concerned about the proposed tax as it would affect millions of low-income Indian expatriates.
According to the report, he has approached Prime Minister Dr. Manmohan Singh, who is in charge of the Ministry of Finance, to get clarification about the proposed tax.
Meanwhile, India's Ministry of Finance did not make any official announcement about the proposed tax.
| Other Articles: |
 |
Organic basmati the new buzz among Jammu farmers (2nd Jul, 2012) |
|
Sensex rises 439.22 points; bank, metal stocks up (2nd Jul, 2012) |
|
Freezing influx, brain drain necessary to develop Goa: CM (2nd Jul, 2012) |
|
Spain's recession to worsen, says minister (2nd Jul, 2012) |
|
Maruti Suzuki sales up 20% in June (2nd Jul, 2012) |
|
US state faces doctor, nurse shortages (2nd Jul, 2012) |
|
China's economy to pick up speed: experts (2nd Jul, 2012) |
|
Rupee gains 6 paise against dollar in early trade (2nd Jul, 2012) |
|
SREI Infra buys $72 mln of Kingfisher debt (2nd Jul, 2012) |
|
Sensex sheds 40 points on profit-booking (2nd Jul, 2012) |
|
Air India strike enters 55th day, two more pilots hospitalised (30th Jun, 2012) |
|
Reserve price of spectrum major concern: COAI (30th Jun, 2012) |
|
End of travel agents? More people buying vacations online (30th Jun, 2012) |
|
China, South American trading bloc eye $200 bn trade (30th Jun, 2012) |
|
World Bank allocates $52.6 bn of assistance in 2012 (30th Jun, 2012) |
|
India's forex reserves down $0.76 billion (30th Jun, 2012) |
|
World Bank cancels credit for Bangladesh bridge project (30th Jun, 2012) |
|
HDFC Bank cuts base rate by 20 bps (30th Jun, 2012) |
|
What keeps rupee under pressure against dollar (30th Jun, 2012) |
|
Canada's economy grows slightly (30th Jun, 2012) |
|
Growth recovery essential for capital inflow: Rangarajan (30th Jun, 2012) |
|
Core industries post 3.8 percent growth in May (30th Jun, 2012) |
|
War breaks out between Oz mining magnate Rinehart and Fairfax over editorial control (29th Jun, 2012) |
|
Extradition still on cards for Kiwi internet millionaire Dotcom despite raid being ruled 'illegal' (29th Jun, 2012) |
|
Murdoch would prefer investing News Corp's billions in US than UK (29th Jun, 2012) |
|
Jobs |
Blog |
Yellow Pages |
Games |
Jokes |
Chat |
e-Cards |
Astrology |
Articles |
Recipes |
Send Gifts
Today : Thursday - Jun 20, 2013, 09:03am (GMT+5.5)
