Speedy disbursal of pending Service Tax refund claims of exporters under rule 5 of the CENVAT Credit Rules, 2004 : CBEC has accorded primacy to speedy sanction of refunds in case of export of services. This initiative is not a substitute for the various notifications but is meant to complement them and is aimed at enabling ease of doing business.
The provision is applicable to service tax registrants who are exporters of services, with respect to refund claims under rule 5 of the CENVAT Credit Rules, 2004, which have been filed on or before 31-3-2015, and which have not been disposed of as on date of the issue of this circular.
Jurisdictional Deputy/Assistant Commissioner is allowed to make a provisional payment of 80% (eighty per cent) of the amount claimed as refund, within five working days of the receipt of Certificate from the statutory auditor in the case of companies, and from a chartered accountant in the case of assesses who are not companies along with an undertaking.
ELCINA welcomes these decisions of CBEC and also Government initiatives towards Ease of Doing Business. ELCINA would like to request for more prominent and permanent steps to support manufacturing and exports.