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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Expedited Refunds for Exporters: 80% Sanctioned in 15 Days u/r 5 of CENVAT Credit Rules, 2004.</h1> The circular outlines a simplified procedure for sanctioning refunds of unutilized credit and rebate claims for exporters under Rule 5 of the CENVAT Credit Rules, 2004. It replaces previous notifications and introduces an expedited refund process, where 80% of the claimed amount is sanctioned within 15 days of filing, provided all documentation is in order. The balance is settled within 45 days after verification. This procedure applies to exporters with a clean track record, including those with significant export turnover, public sector undertakings, star export houses, and certain manufacturer-exporters. The circular mandates prompt communication to relevant field formations.
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