CBEC Denies any Holding of Customs, Excise Duty and Service Tax Refunds/Drawbacks

The Central Board of Excise and Customs (CBEC) has denied the report that the Customs, Excise Duty and Service Tax refunds/drawbacks are being held-up by the Department. This was mentioned in a certain section of media attributing to a statement by President, Federation of India Export Organisations (FIEO) to the effect that Customs, Excise Duty and Service Tax refunds/drawbacks are being held-up by the Department.

 This is not correct.  The following statement will indicate that more amounts have been refunded in 2013-14 compared to the corresponding period in the previous year.

For the period April – February

(Rs. in crore)