Service Tax Refund on Exports - Yet another Committee
A Committee has been constituted with DG, Service Tax, Sanghamitra Panda as Chairperson, to review the scheme for electronic refund of service tax paid on taxable services used for export of goods, made operational vide Notification 52/2011-ST dated 30th December, 2011. Other members of the Committee are Commissioner of Service Tax, Mumbai-1, Sushil Solanki and Director, TRU, J. M. Kennedy.
The Committee is to
1. Evolve a scientific approach for the fixation of rates in the schedule of rates for service tax refund; and
2. Propose a revised schedule of rates for service tax refund, taking into account the revision of rate of service tax from 10% to 12% and also movement towards ‘Negative List' approach to taxation of services.
The Committee will submit its report to the Chairman, CBEC, before 20/06/2012. Views and suggestions may be sent to feedbackonestr@gmail.com
If you see a snake, what do you do? If the Government sees a snake, it appoints a Committee.