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of <h1>Central Excise & Customs Adopt E-Payment System for Refunds, Replacing Cheques; Compliance by February 10, 2016.</h1> The circular outlines the implementation of an e-payment system for refunds and rebates in Central Excise and Customs, replacing the manual cheque process. It mandates the use of RTGS/NEFT facilities through authorized banks, primarily the State Bank of India, to expedite payments and reduce paperwork. Claimants must provide a one-time bank authorization, and refund authorities will send a consolidated statement and cheque to the bank for processing. The procedure includes reconciliation steps involving Unique Transaction References (UTRs) and periodic reports. The system aims to enhance efficiency and ease of doing business, with a compliance deadline of February 10, 2016.
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