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of <h1>New Facility for Direct Payment of Rebates to Assessees' Bank Accounts Replaces Cheques, Effective November 1, 2012.</h1> The circular introduces a new facility for direct payment of rebate or refund claims to the bank accounts of assessees and exporters, replacing the previous method of issuing cheques. This change aims to reduce paperwork, manpower, and delays caused by clerical errors or address issues. For new claims filed from November 1, 2012, claimants must provide a one-time authorization and a cancelled cheque. Pending claims require immediate submission of authorization. The refund process involves regular statements sent to a designated bank, which credits the amount to claimants' accounts after deducting NEFT/RTGS charges. Queries can be addressed to respective jurisdictional officers.
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