Tirupur exporters welcome service tax exemption
Tirupur Exporters' Association has requested the Finance Ministry to exempt all services undertaken by exporters from the payment of service tax and also Fringe Benefit Tax.
By PTI |
COIMBATORE: Notwithstanding its disappointment with the Finance Ministry for not entirely fulfilling exporters' expectations, Tirupur Exporters' Association on Sunday welcomed the exemption of three more services from the service tax net.
In his reaction to yesterday's announcement by the Finance Ministry, TEA President A Shaktivel today said extending refund of service tax paid by the exports for technical testing, general insurance, analysis and inspection and certification was a welcome step.
However, the announcement has not entirely fulfilled the expectation of the exporters, he said.
He requested the Finance Ministry to exempt all services undertaken by exporters from the payment of service tax and also Fringe Benefit Tax, besides taking steps to reduce the interest rates to six per cent.
"If the above requisition is not addressed immediately, then the survival of industries will be a big question mark," he said.
The government had last month announced exempting services rendered by ports, road transport and railways from the purview of tax.
In his reaction to yesterday's announcement by the Finance Ministry, TEA President A Shaktivel today said extending refund of service tax paid by the exports for technical testing, general insurance, analysis and inspection and certification was a welcome step.
However, the announcement has not entirely fulfilled the expectation of the exporters, he said.
He requested the Finance Ministry to exempt all services undertaken by exporters from the payment of service tax and also Fringe Benefit Tax, besides taking steps to reduce the interest rates to six per cent.
"If the above requisition is not addressed immediately, then the survival of industries will be a big question mark," he said.
The government had last month announced exempting services rendered by ports, road transport and railways from the purview of tax.
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