Are they Eligible for refund
This query is : Resolved
19 August 2009
A firm registered with Software Technology Parks has about 99% export of software business. Hence there is huge accumulation of credit. As per the new refund rules when applied for refund the dept. says that they are eligible for refund only for one year. Do they stand loose of all the credit accumulated over the years. When the unutilized credit available as on date of application is available why the date on which credit availed becomes relevant while applying for refund. What is the procedure to get the refund of entire amount withour any loss.
Madhukar N Hiregange
(Expert)
20 August 2009
Eligible from May 2008 as the same becmae taxable from then onwards. If other taxable services in BPO etc or ITES provided earlier eyar ebven the earlier years credits are available. See a good local professional for assistance.
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