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
Latest Expert Exchange
Customs and Excise »
 Central Board of Excise and Customs to be renamed CBIC by April
 Central Board Of Excise & Customs New Delhi GST Flyers
 Hike in customs duty on electronics likely to boost revenue collection
 Customs duty raised on electronic goods
 Ministry Of Finance (Central Board Of Direct Taxes) Notification
 Refund of IGST paid on export of goods under rule 96 of CGST Rules,2017
 Customs And Central Excise Drawback – Part II
 Customs Valuation (Determination of Value of Imported Goods) Rules 2007
 Amendment to Customs Valuation Rules – Notification No. 91/2017 (NT)
 GST on Custom House Agents
 The Customs and Central Excise Duties Drawback Rules, 2017 and All Industry Rates (AIRs) of Drawback related changes

CBEC clarification useful, but still not sufficient
May, 23rd 2011

The exemption to service tax on services provided to Special Economic Zone (SEZ) developers/units has always posed some difficulty or the other. The Central Board of Excise and Customs (CBEC) has now come out with a fresh set of clarifications but whether SEZ units and developers will get refunds quickly is a matter of doubt.

To give some background, the finance ministry issued notification no. 17/2002-ST dated 21.11.2002, granting exemption from service tax on services provided to SEZ units/developers but it did not work out satisfactorily, as it prescribed that a committee headed by a chief commissioner should authorise the services to be provided.

A fresh notification no. 4/2004-ST dated the 31.03.2004 also did not work well, because it implied evidence had to be presented of consumption of services in the SEZ.

The next notification no. 9/2009-ST dated 3-3-2009 prescribing that SEZ developers/units must first pay the tax and then claim refund was amended on May 20, 2009, to provide unconditional exemption to services consumed within the SEZ without following the refund route.

It limited exemption by way of refund to situations when only the taxable services provided to SEZs were consumed, partially or wholly outside it.

For more information click below


Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Software Reengineering Software Re-engineering Software Reverse Engineering Software Reverse Development Software Change Modulation Software Conversion Software Re-creation Software Re-development

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