Latest Expert Exchange Queries

GST Demo Service software link: https://ims.go2customer.com
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft info@binarysoft.com
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
 
 
 
 
Popular Search: articles on VAT and GST in India :: VAT RATES :: ARTICLES ON INPUT TAX CREDIT IN VAT :: cpt :: TAX RATES - GOODS TAXABLE @ 4% :: VAT Audit :: empanelment :: ACCOUNTING STANDARD :: form 3cd :: due date for vat payment :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: list of goods taxed at 4% :: ACCOUNTING STANDARDS :: Central Excise rule to resale the machines to a new company :: TDS
 
 
Service Tax »
 GST base looks set to be at least 25% wider than earlier tax regime
 Businesses struggle with multiple tax rates, returns
 Common use items exempt from e-way bill provision under GST
 Goods And Services Tax Sends Taxes Racing
 How GST lesson can unleash untapped potential of education sector in India
 Services sector PMI falls most in 4 years on GST
 Missing column in GSTR 3B form leaves input claims a shaky edifice
  Communication to the Central Excise/Service Tax Taxpayers on migration to GST
 GST not easy to implement but tax base expansion will benefit all
 Goods and Services Tax was not an easy reform to implement
 GST to expand tax base, bring down weighted average tax rate:

Faster service tax refunds on cards
February, 16th 2009

Service tax refunds for exporters are set to become easier and speedier. The government is likely to do away with some of the
procedural requirements that delay issue of refunds to exporters.

The issue of delay in refund of service tax paid on input services used by exporters has been hanging fire for some time now. The Central Board of Excise & Customs (CBEC) officials have had a series of meetings with industry representatives from various sectors including IT, commerce ministry officials and its field officials to resolve the issue and ensure speedier refunds.

The new rules are expected to be unveiled this week, a government official said.

Some steps being considered to make the refunds easier are doing away with the requirement of documentary proof and third-party verification in some cases. Interpretation of export of service rules has also led to piling of refunds or issue of showcause notices to units, especially in the case of business process outsourcing.

The ministry is also taking a relook at the rule which was slowing down refund claims wherein the finance ministry was insisting that service tax refunds would be made only after proof of realisation of export proceeds was given by exporters.

Exporters claim that often there was a time lag between shipment sent and payment realised and, therefore, it was unfair to keep exporters hanging till they realise payment.

The exporting community has time and again taken up the issue with the finance ministry saying that though service tax reimbursement had been allowed on paper, little was actually being refunded as the rules for making claims remained ambiguous and unrealistic.

"We have asked the finance ministry to give us details of the claims made and the refunds given. Wherever we find that claims have been rejected on unrealistic grounds, we are going to contest that," a commerce ministry official said.

The finance ministry has, till now, allowed exporters to claim refunds on total 19 services. An impetus on linkage between service availed and exports made was also making things difficult for the exporters as for a number of services, it was difficult to directly link it to exports.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - About Us

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions