IT, ITeS cos can now claim service tax refund

[bpo-guru]

The $50-billion information technology services and BPO outfits, including Infosys, Wipro, TCS, WNS, Genpact, will now be able to get their service tax refunds, running into a few thousands of crores, expeditiously, as the government has announced a new simplified procedure to resolve the long-pending issue that has caused much hardship to the industry.

The Central Board of Excise and Customs, the apex indirect taxes body, on Tuesday issued a circular directing its field officials to issue pending service tax refunds within 30 days, and also relaxed certain norms for issue of such refunds.