Expedited Refund Scheme for Exporters of Services u/r 5: Quick 80% Provisional Payment with Required Documents.

The circular from the Ministry of Finance, dated November 10, 2015, outlines a scheme for the expedited processing of pending refund claims for exporters of services under Rule 5 of the CENVAT Credit Rules, 2004. Applicable to claims filed by March 31, 2015, the scheme requires claimants to submit additional documents, including a certificate from an auditor and an undertaking. Upon receipt, a provisional payment of 80% of the claimed refund is made within five working days. The scheme emphasizes prompt processing, verification, and monitoring to ensure timely disbursal and minimal delays, aligning with the Year of Taxpayer Services initiative.

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