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of <h1>Central Excise Notice: Exporters to Get Refunds via RTGS/NEFT Starting February 22, 2016.</h1> The Central Excise Trade Notice No. 01/2016, dated February 16, 2016, outlines the procedure for direct electronic payment of refunds or rebates to exporters via RTGS/NEFT. Effective February 22, 2016, this system will be implemented through specified branches of Syndicate Bank in Belagavi, Bellary, Gulbarga, and Hubli. Exporters must provide a one-time authorization certified by their bank. Authorized Assistant Commissioners will manage the refund process, ensuring payments are made weekly. Pending claims as of February 22, 2016, will also be processed electronically. Banks may deduct applicable charges as per RBI guidelines.
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