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Industry & Economy
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Exports & Imports
States
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Tamil Nadu
Service tax refund for exporters
Coimbatore, Sept. 8
The service tax paid by the exporters on general
insurance, technical testing/analysis and inspection
and certification will be refunded. The Finance Ministry
has come out with a notification in this regard, according
to a communication from the Tirupur Exporters
Association (TEA). The TEA President, Mr A. Sakthivel,
in a statement said he welcomed the measure, although
this had not fully met the exporters' expectation. He
wanted the Ministry to exempt the service tax for all
services, including the fringe benefit tax. He also wanted
that the interest rates for export sector be reduced to 6
per cent. Unless these are acceded, the survival of the
exporting industry would be at stake, Mr Sakthivel said.
- Our Bureau
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