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Exports of 68 services may get service tax refund
November, 03rd 2011

Exports of as many as 68 services, including banking and asset management, will be eligible for refund of service tax, as per a draft circular of the Revenue Department.

The Central Board of Excise and Customs (CBEC) in order to streamline the process of sanctioning of refund claims arising on account of service tax on input services that have gone into exports of services, has sought public comments by November 30 on the draft circular.

However, if the input service has made no contribution to exports and has been exclusively utilised for domestic operations, it would not be eligible to refund, the CBEC's draft added.

The government's policy is that exports should not be burdened with any excise or service tax.

The draft follows complains that exporters face problems in availing refund.

"It may please be noted that the list is not exhaustive, but is illustrative," the draft circular on 'Refunds in Service Tax' added.

Some other services that have been included in the list are, air travel agents services, cargo handling services and courier service.

 
 
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