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Refund/rebate claim - Direct credit of refund/rebate to exporters credit by way of electronic payment under RTGS/NEFT facility - Procedure for reconciliation - Central Excise - CENTRAL, EXCISE GENERAL INSTRUCTION NO 01/2016Extract GOVERNMENT OF INDIA MINISTRY OF FINANCE, DEPARTMENT OF REVENUE OFFICE OF THE COMMISSIONER OF CENTRAL EXCISE NO.71, CLUB ROAD, BELGAUM - 590001 DATED 19.02.2016 CENTRAL, EXCISE GENERAL INSTRUCTION NO 01/2016 Subject: -Refund/rebate claim - Direct credit of refund/rebate to exporters credit by way of electronic payment under RTGS/NEFT facility - Procedure for reconciliation - Reg Please refer to Trade Notice No. 01/2016 dated 16.02.2016 on the subject cited above. In this regard, the procedure for reconciliation of refund/ rebate is as under: 2. A UTR (Unique Transaction Reference) generated by the bank which is an acknowledgment evidencing the transfer of fund to the claimant's bank account should be collected from the bank at the end of every month. 3. A consolidated monthly report of such UTR's be sent by the refund/ rebate sanctioning authority to the PAO, Belgaum, at the end of each month enclosing the details of each cheque issued with date and amount in Annexure-C. 4. After transfer of amounts to the claimants the bank shall generate 'periodic scroll' containing the details of refund amount sanctioned to various claimants along with other details as necessary, and send the same to the PAO concerned, giving details of receipt of consolidated cheques and payments made by the bank. 5. The PAO shall reconcile the cheques received from the field formations in r/ o refund/ rebates with the periodic scrolls sent to them by the bank and report discrepancy, if any, to the filed formation concerned, who, in turn, would verify the same and send compliance report to the PAQ (B. HARERAM) COMMISSIONER
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