Avail 20% discount on updated CA lectures for Dec 21 .Use Code RESULT20 !! Call : 088803-20003

ICICI

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

SEZ units need admin nod to claim service tax refund: Govt

 

The government has said that SEZ unit and developers would require the sanction of Unit Approval Committee for availing benefits of service tax refund.

 

Besides, developers and units would also have to furnish original invoices for claiming benefits, the Department of Revenue said in a circular on Wednesday.

 

SEZ units and developers are exempted from service tax. However, in case of services taken from outside the zone they are levied the tax which can be later refunded.

 

"Unit Approval Committee (UAC) of the SEZ determines goods and services required for the authorised operations of a unit/developer under the SEZ law. Hence, approval of the UAC is necessary for availing the notification benefit, on the taxable services," it said.

 

The UAC is one of the three tiers of administrative setup governing SEZs. The UAC at the zonal level dealing with approval of units in the SEZs and other related issues.

 

The circular further said: "...original invoices are needed for claiming refund. After receiving the refund, originals can be taken back on submission of copies certified by chartered accountant."

 

It further added that consolidated refund can be claimed in case a single entity has multiple SEZ units with a centralised service tax registration.

 

However, for such a benefit separate accounts have to be maintained for receipt and use of services for the authorised operations in SEZ unit.

 



Comments


img

Trending Tags