Govt may soon credit you service tax refund in you bank account automatically

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.