Refund of Service Tax on exports – Notification soon
The Foreign Trade Policy had announced that Service Tax on exports would be exempted/refunded. We in TIOL had pointed out that this has to be done by the Finance Ministry and not Commerce Ministry. But the Commerce Secretary seems to be confident. He has announced in a meeting yesterday that the notification on refund of service tax on exports at post production stage would come in the next couple of weeks.
“The notification will have the list of services on which tax would be refunded and the means of how it would be done,” he is reported to have said.