Export - Refund of taxes - new promises from Kamal Nath
Poor Kamal Nath, unfortunately does not understand that he can only give promises, not refunds. He has now announced a plan for sector-specific package for refund of taxes and levies to exporters hit by a sharp rise in rupee value. He said that his Ministry is preparing a Cabinet note for expanding coverage of refunds to exporters. He further very ignorantly said, "The government had announced a Rs 1400-Crore package for exporters in July and exempted seven items from service tax." Maybe he should have a chat with his illustrious and articulate colleague, the Finance minister before he announces his grandiose schemes.
NOTIFICATION NO. 104 & Dated : October 17, 2007