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of <h1>India's Finance Ministry Launches Direct Bank Transfer for Rebate and Refund Claims, Reducing Paperwork and Delays.</h1> The Government of India's Ministry of Finance has introduced a new facility allowing rebate and refund claims to be paid directly into the bank accounts of assessees and exporters. This change, effective from February 10, 2016, aims to reduce paperwork and delays associated with the previous cheque-based system. Claimants must provide a one-time bank-certified authorization and a cancelled cheque for new claims, while pending claims require similar authorization by a specified date. Refunds will be processed through electronic transfers via RTGS/NEFT, with banks authorized to deduct applicable charges. Claimants can contact their jurisdictional commissioner for assistance.
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