Exporters can now get their service tax refunds much faster thanks to simpler norms

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....xporters can now get their service tax refunds much faster thanks to simpler norms <br>News and Press Release<br>Dated:- 13-12-2008<br><BR>The Central Board of Excise and Customs (CBEC) has further relaxed the procedures for refund of tax paid on specified services used for export of goods. The board has directed its field officials to pay refund claims in 30 days. Even exporters that are not re....

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....gistered with the central excise will now be able to file a refund claim. To get their refund, they would have to file a claim with the excise authority having jurisdiction over their factory. The authority will issue a service tax code to facilitate a refund. "For the purpose of compliance verification, random checks should be carried out independently and where the refund amount is significant....

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...., post refund audit may also be carried out," the CBEC circular said. The simplified procedure for service tax refund, which was unveiled in April for exporters with a good track record, will cover all exporters with a turnover in excess of Rs 5 crore in the current or preceding financial year, public sector units including those run by state governments, star export houses, manufacturer-exporte....

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....rs registered with the board that have been exporting during the previous two financial years and have minimum export of Rs 1 crore and all export-oriented units. Earlier, the CBEC had extended the period of filing for a refund claim from 60 days to six months. Besides, it had also allowed refunds on testing services without any copy of an agreement with the buyer of goods, if such testing and a....

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....nalysis were statutorily stipulated by domestic rules and regulations. See: Circulars and Notifications referred: Service Tax - 106/9/2008-ST - dated - 11-12-2008 Service Tax - 101/4/2008-ST - dated - 12-05-2008 Notification No. 32/2008-ST, dated 18.11.2008 Notification No. 41/2007-ST - dated - 6-10-2007 F. No. 341/15/2007-TRU, dated 17.4.2008 circular No. 828/5/2006-CX dated 20.4.2006<BR>....

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.... News - Press release - PIB....