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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>E-payment for Customs Refunds: Streamlining via RTGS/NEFT, Replacing Cheques, Effective February 10, 2016.</h1> The circular outlines the implementation of e-payment for customs refunds and rebates to streamline the process and enhance efficiency. It mandates the use of authorized banks for electronic transfers via RTGS/NEFT, replacing the manual dispatch of cheques. Claimants must provide a one-time authorization, and refund sanctioning authorities will coordinate with banks to process payments. The procedure includes the generation of Unique Transaction References (UTRs) for reconciliation and requires regular reporting to ensure accuracy. The e-payment system aims to expedite fund transfers and reduce paperwork, with implementation expected by February 10, 2016, in various Central Excise zones.
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