Exports of 68 services may get service tax refund

NEW DELHI: 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 issued by CBEC on 28.10.2011.

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.

Related posts:

1. Service tax Notification of Refund on Exports
2. Service Tax Refund to exporters of 3 more services allowed
3. Refund Service Tax on Exports Further Extended by Service Tax Notification No. 3/2008 Dated 19/02/2008
4. Service tax refund extended to 3 more export-based services
5. Clarification on refund of input taxes to exporter of Services under Notification 5/2006-CE (NT) dated 14 March 2006 (“Refund Notification”)