Electronic refund payment to claimants' bank accounts speeds rebate disbursement via RTGS/NEFT, subject to bank charges and authorization. A facility to pay rebate and refund claims directly to the assessee's/exporter's bank account by electronic transfer is prescribed. Claimants must submit a one-time bank-certified authorization with a cancelled cheque for fresh claims, and provide copies for subsequent or pending claims. Refund sanctioning authorities will forward a signed beneficiary list, consolidated cheque, original authorizations, and a soft copy to the designated bank, which will credit claimant accounts via RTGS/NEFT after deducting applicable bank charges under Reserve Bank guidelines.
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Provisions expressly mentioned in the judgment/order text.
Electronic refund payment to claimants' bank accounts speeds rebate disbursement via RTGS/NEFT, subject to bank charges and authorization.
A facility to pay rebate and refund claims directly to the assessee's/exporter's bank account by electronic transfer is prescribed. Claimants must submit a one-time bank-certified authorization with a cancelled cheque for fresh claims, and provide copies for subsequent or pending claims. Refund sanctioning authorities will forward a signed beneficiary list, consolidated cheque, original authorizations, and a soft copy to the designated bank, which will credit claimant accounts via RTGS/NEFT after deducting applicable bank charges under Reserve Bank guidelines.
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