Address: | Chennai, Tamil Nadu |
Service tax paid by industrial establishments on differential land cost to state government industrial development corporations/undertakings is exempted under section 66b of the said act with retrospective effect in the finance act, 2017.
Communication on this has been received by the industrial establishments from industrial development corporation only in the last week of september, 2017.
The refund claim has to be submitted within a period of 6 months from the date on which the finance bill, 2017 receives the assent of the president. I. E., on or before 30.09.2017.
Most of the industrial establishments have filed their refund claim application central tax and central excise authorities only in the month of october, 2017.
There are possibilities for rejecting the refund claims on account of time bar.
Request the hon'ble finance minister to extend the time limit for a period of "one year" instead of 6 months so that all the industrial establishments who have submitted their refund claims will be benefited out of this. Was this information helpful? |
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