Service tax refund rejections choking IT cos' cash flow

Comments 0
IT industry is eligible for refund on the service tax inputs for units operating under the ambit of Software Technology Park regulations. IT industry is eligible for refund on the service tax inputs for units operating under the ambit of Software Technology Park regulations.
SummaryService tax refunds to tune of Rs 4,000-5,000 cr are pending on various grounds, largely flimsy.

working with the finance ministry for a solution. Nasscom VP (global trade development) Ameet Nivsarkar said refund claims have been very slow to come through, so a couple of committees have been formed in association with Nasscom along with the finance ministry to solve this issue.

The $76-billion Indian IT exports industry has been largely compliant with the tax system and has been one of the biggest contributor towards the export basket.

Single Page Format
Ads by Google

More from Front Page

Reader´s Comments
| Post a Comment
Please Wait while comments are loading...