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of <h1>New Procedure for Export Drawbacks: Payments Now Possible at Any Bank Nationwide via CBS, RTGS, NEFT from July 1, 2008.</h1> The circular announces a new procedure for the payment of export drawbacks, allowing exporters to receive payments in their core banking enabled accounts at any branch or bank nationwide. Previously, exporters had to maintain accounts with authorized bank branches at the port of export. With advancements in banking technology, including CBS, RTGS, and NEFT, exporters can now declare their bank details to customs authorities for registration, enabling payments through any authorized bank. This change, effective July 1, 2008, at specified locations, aims to streamline the process and eliminate the need for exporters to open accounts solely at designated branches.
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