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Maximizing Cenvat Credit and Services Tax Benefits for Exporters

Learn how to optimize Cenvat credit and claim refunds to offset service tax burdens when exporting goods and services. Explore measures like duty drawback, refund of service tax, and eligible services for tax benefits. Understand the procedures, jurisdiction, and time limits for claiming refunds and maximizing benefits while ensuring the realization of export proceeds. Discover how to make the most of available tax benefits for exporters.

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Maximizing Cenvat Credit and Services Tax Benefits for Exporters

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  1. SERVICE TAX FOR EXPORTERSbyg. natarajanadvocate & cost accountant

  2. Goods and Services can be exported but not taxes!

  3. Measures to offset service tax burden. • Cenvat Credit – Input Services. Manufacturer – Used in or in relation to manufacture and clearance of final products upto to the place of removal. Service provider – Used for providing the output service. • Utilisation of Cenvat Credit. • Encashment of Cenvat Credit. • Refund of Cenvat Credit.

  4. Measures to offset service tax burden. • Duty Drawback.

  5. Measures to offset service tax burden. • Refund of Service Tax. Notification 41/2007

  6. Refund of Service Tax. • Eligible Services. • General Insurance. • Port Services (Major / Minor Ports). • Inspection / Certification. • Road Transport / Rail transport. (ICD to Port of export & Place of removal to ICD) • Cleaning Services. • Storage and Warehousing. • Courier. • Customs House Agent. • Banking services. • Commission Agent. • Forex broker. • Supply of tangible goods.

  7. Refund of Service Tax – Procedures. • Manufacturer Exporters & Others. • Jurisdiction to file the claim. • Time limit. • Realisation of export proceeds. Mutual exclusivity.

  8. THANKS

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