The Finance Ministry has issued a Notification(6.10.2007) by extending refund of Service Tax paid by the exporters for three more service 1) General Insurance 2) Technical Testing and Analysis, 3) Inspection and Certification respectively
In a Press Release issued (6.10.2007), Shri. A. Sakthivel, President, TEA welcomed the announcement made by the Finance Ministry. However, he said the announcement has not entirely fulfilled the expectation of the exporters.
Further, he requested the Finance Ministry to give exemption from the payment of Service Tax for all Services incurred by exporters and also Fringe Benefit Tax. In addition, he wished the interest rates should be reduced to 6%.
Finally, he informed that if the above requisition is not addressed immediately, then the survival of industries will be a big question mark.
Tirupur Exporters' Association
marketing@alchempro.com
