Shaleen ShahExporters can now get their service tax refunds much faster thanks to simpler norms. The Central Board of Excise and Customs (CBEC) has further relaxed the procedures for refund of tax paid on specified services used for export of goods. The board has directed its field officials to pay refund claims in 30 days.
Even exporters that are not registered with the central excise will now be able to file a refund claim. To get their refund, they would have to file a claim with the excise authority having jurisdiction over their factory. The authority will issue a service tax code to facilitate a refund.
“For the purpose of compliance verification, random checks should be carried out independently and where the refund amount is significant, post refund audit may also be carried out,
