Budget 2011 - Service Tax - SEZ Refunds:

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..... Budget 2011 - Service Tax - SEZ Refunds:
News and Press Release
Dated:- 28-2-2011

14.1 Notification No. 17/2011-ST has been issued superceding notification 9/2009-ST dated 03.03.2009. Th .....

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..... e new notification has the following unique features: (a) Criteria for the determination of "wholly consumed" services have been laid down in the notification, borrowing from the Export of Services .....

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..... Rules, 2005. It has also been specified that all services received by an entity in a SEZ, which does not have any other DTA operations, will constitute "wholly consumed" services. (b) No service tax .....

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..... is required to be paid ab-initio if the same are meant to be "wholly consumed" within SEZ, including services liable to tax on reverse charge basis under section 66A. (c) Refund of the remaining se .....

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..... rvices i.e. which are not wholly consumed shall be available on pro rata basis i.e. ratio of SEZ turnover to total turnover. (d) Suitable rule has been introduced in Cenvat Credit Rules, 2004 to wai .....

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..... ve the requirements of rule 6 in case of services provided, without payment of tax, to a SEZ unit for its authorized operations.
News - Press release - PIB .....

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