Introduction of facility of payment of rebate / refund claims amount directly to the assessee's /exporters' Bank Account - Customs - PUBLIC NOTICE NO. 04/2016

OFFICE OF THE COMMISSIONER OF CUSTOMS CUSTOM HOUSE, NEW HARBOUR ESTATE, TUTICORIN - 628004 Dated 19.02.2016 PUBLIC NOTICE NO. 04/2016 Sub: Introduction of facility of payment of rebate / refund claims amount directly to the assessee's /exporters' Bank Account Reg. The Department of Revenue, Central Board of Excise and Customs, has decided to utilise the facility of electronic payment through RTGC/NEFT in the authorized banks to facilitate speed up the transfer the fund directly to the beneficiaries. At present, consequent to sanction of refund claims by the competent authority, cheques are being issued and the same are sent by Registered Post or handed over the authorized person. The present procedure entails paper work and man power deployment by the claimants as the authorized persons are required to visit the departmental offices for collection of refund cheques. There are also instances where cheques are returned due to incomplete address or change in address or some other clerical errors. All these lead to delay in realization of refund amounts by the claimants. Therefore, as a trade facilitation measure, the facility for payment of refund amount directly to beneficiary's bank account after sanction of the refund ciaims is being introduced and thereby promote ease of doing business. 2. The following procedure is prescribed for implementation of the above facility:- Procedure For all fresh claims filed on or after 10.02.2016 the claimants Shall provide one- time authorization in duplicate duly certified by the beneficiary bank in a prescribed format Annexure-A enclosed to this Trade Notice along with a cancelled cheque containing IFS Code. For all subsequent claims, the claimant shall produce a self attested copy of the authorization already submitted to the refund sanctioned authority. 3. In case of any may contact their jurisdictional Commissioner. 4. The contents of this Trade Notice may be brought to the notice of all the members of trade, exporters and other stakeholders. (issued vide file c.No. V111/20/137/2016- RF dt %6.02.2016.) (Authority :- Boards Circular No. dated 12.01.2016) (K.C. JOHNY) COMMISSIONER