Direct electronic payment of sanctioned rebate/refund amounts to assessee/exporter bank accounts via RTGS/NEFT. The Bangalore V Central Excise Commissionerate introduced a facility effective 10.02.2016 for payment of sanctioned rebate/refund amounts directly to assessee/exporter bank accounts via RTGS/NEFT. Fresh claims require a one-time bank-certified authorization in duplicate and a cancelled cheque (Annexure A); pending claims must submit authorizations by 10.02.2016. Refund authorities will forward a signed beneficiary list (Annexure B), a consolidated cheque to the designated bank, original authorizations and a soft copy; the bank will credit individual accounts after deducting applicable NEFT/RTGS charges per RBI guidelines.
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.
Direct electronic payment of sanctioned rebate/refund amounts to assessee/exporter bank accounts via RTGS/NEFT.
The Bangalore V Central Excise Commissionerate introduced a facility effective 10.02.2016 for payment of sanctioned rebate/refund amounts directly to assessee/exporter bank accounts via RTGS/NEFT. Fresh claims require a one-time bank-certified authorization in duplicate and a cancelled cheque (Annexure A); pending claims must submit authorizations by 10.02.2016. Refund authorities will forward a signed beneficiary list (Annexure B), a consolidated cheque to the designated bank, original authorizations and a soft copy; the bank will credit individual accounts after deducting applicable NEFT/RTGS charges per RBI guidelines.
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