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of <h1>E-Payment of Refunds and Rebates Streamlined for Faster Transfers to Beneficiaries' Accounts, Effective June 1, 2016.</h1> The circular outlines procedures for implementing e-payment of refunds and rebates to expedite direct transfers to beneficiaries' bank accounts, enhancing business efficiency. Authorized banks will process payments via RTGS/NEFT, with the Reserve Bank of India, Kolkata, designated for the Kolkata Commissionerate. Claimants must provide a one-time authorization, and refund authorities will send sanctioned orders and cheques to banks. Banks will deduct applicable charges before crediting accounts. A reconciliation process involves generating Unique Transaction References (UTRs) for transfers, with periodic reporting to ensure accuracy. The procedures are effective from June 1, 2016, with any implementation issues to be reported to the Principal Commissioner of Customs, Kolkata.
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