New Delhi, April 1 (UNI) The government today announced refund of service tax on three more services to exporters to help them tide over the impact of recent appreciation of rupee.
The refund will be allowed on expenses incured on custom house agent service, banking and other financial services and on commission agent service located outside the country, a finance ministry release said this evening.
''The government has issued notification extending refund of service tax paid by exporters on three more taxable services in addition to existing 13 taxable services, which are not in the nature of input services but could be related to exports,'' the release added.
''Refund of service tax shall be restricted to actual amount of service tax paid or service tax calculated on two per cent of freight on board (FOB) value of export goods, whichever is less,'' Central Board of Excise and Customs said.
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