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of <h1>Finance Ministry Simplifies 4% Additional Duty of Customs Refund Process; Requires E-Invoice Submission & Direct Bank Credit.</h1> The circular from the Ministry of Finance, Department of Revenue, addresses the simplification of the procedure for claiming a 4% Additional Duty of Customs (CVD) refund. Due to delays and denials in refund processing, the Board has decided to streamline the process. Accredited Clients can have their refunds sanctioned within 30 days upon preliminary scrutiny of specific documents, with detailed scrutiny occurring post-audit. Electronic submission of sale invoices is now required, and refunds can be directly credited to bank accounts via RTGS or NEFT. Importers must provide a Chartered Accountant's certificate and a self-declaration to confirm the non-transfer of the CVD burden.
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