Government today said that it was working on a system to automatically transfer service tax refunds in their accounts. Currently, the duty drawback is directly credited to accounts of exporters maintained at customs houses, but exporters have to file claims separately to get service tax refunds. Exporters complain that many a times there are unusual delay in refund of the levy.
The new Move once implemented is expected to make exporter get faster refund of service tax and will also also reduce the cost for exporters.
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