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TMI BlogSimplified procedure for sanction of refund of unutilised credit/rebate claims in cases of exportX X X X Extracts X X X X X X X X Extracts X X X X ..... f Central Excise All Chief Commissioners of Customs and Central Excise All Commissioners of Central Excise All Commissioners of Central Excise (Appeals) [email protected] Subject: Simplified procedure for sanction of refund of unutilised credit/rebate claims in cases of export. Sir/Madam, It may be recalle ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... se duty to exporters, the Economic Advisory Council to the Prime Minister has recommended that as an immediate reform, Department of Revenue should draw up a scheme to provide for making adhoc interim refunds, say 80 percent of the amount due, based on the refund/rebate claims filed by the exporters, subject to firm settlement within a short time frame from the date of filing such claims. Acceptin ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ned within 15 days of (a) filing of the rebate claim; or (b) filing of document evidencing payment of duty including the periodical return, which ever is later, provided all the documents filed along with the claim are, prima-facie, found to be in order. In case of refund of unutilised credit under rule 5 of the CENVAT Credit Rules, 2004, 80% of the refund amount will be sanctioned within 15 days ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... een booked by the Department during the preceeding three years or/and where no recovery of short levy is pending on date. (a) All exporters who have an export turnover of Rs. 5 crores in the current year or the preceding financial year. (b) Public Sector Undertakings including PSUs of the State Government. (c) Star Export Houses as specified under Chapter 3.5 of the Foreign Trade Po ..... X X X X Extracts X X X X X X X X Extracts X X X X
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