The Finance Ministry has constituted a committee to review the scheme for electronic refund of service tax paid on services used in export of goods.
The committee, headed by Director General of Service Tax, Ms Sanghamitra Panda, would evolve a scientific approach for the fixation of the rates schedule for service tax refund.
It would propose a revised schedule of rates for service tax refund, taking into account the revision of service tax rate from 10 per cent to 12 per cent. The movement towards ‘negative list’ approach for taxation of services would also be factored for this purpose.
The committee has been asked to submit its report to the CBEC Chairman before June 20. Other members of the committee are Mr Sushil Solanki, Commissioner of Service Tax and Mr J.M.Kennedy, Director, Tax Research Unit.
Published on April 10, 2012
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