Friday, November 4, 2011

Draft Circular issued for streamlining the process for refund of credit on export of services


The CBEC has issued a draft clarificatory circular on determination of the input services, which are eligible for refund under Notification No. 05/2006 ST.  Suggestions can be sent to the Board by 30.11.2011 at d.aron@nic.in . The issue of eligibility of input services to refund under Notification No. 05/2006 has been addressed in Circular No. 120/01/2010-ST dated 19.01.2010 which mentions the Procedural/legal impediments causing delay in refund and clarifications for quick disposal of refund claims.

[Draft Circular on Refund of Service Tax dated 28.10.2011]- Service Tax
Source: www.cbec.gov.in and www.taxindiaonline.com

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