Are they Eligible for refund

This query is : Resolved

lakshmi (Querist)
Follow

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

Madhukar N Hiregange (Expert)
Follow

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.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

Avisha Sinha

NISHANT SIPANI

shanmukha sai

Rohit Sachdeva

Angadi & Co

Subscribe Now

Are they Eligible for refund

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

CA Final

Article Assistant

GST CONSULTANT

GST CONSULTANCY

Accountant

Manager- Finance and Compliance