Bank account validation in PFMS required for drawback disbursal; exporters must update accounts and submit specified documentation. Exporters must have bank accounts validated in the Public Financial Management System (PFMS) before drawback can be credited; unvalidated or closed accounts may block payment. Exporters should promptly update and avoid changing account details during the financial year. To update an account they must submit a request letter to the Drawback section, bank-verified account details on company letterhead, IEC copy, PAN copy, and a bank cheque leaf. Difficulties should be reported to the Drawback office for assistance.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Bank account validation in PFMS required for drawback disbursal; exporters must update accounts and submit specified documentation.
Exporters must have bank accounts validated in the Public Financial Management System (PFMS) before drawback can be credited; unvalidated or closed accounts may block payment. Exporters should promptly update and avoid changing account details during the financial year. To update an account they must submit a request letter to the Drawback section, bank-verified account details on company letterhead, IEC copy, PAN copy, and a bank cheque leaf. Difficulties should be reported to the Drawback office for assistance.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
TaxTMI 
