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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Finance Ministry Sets March 2021 Deadline for Speedy Duty Drawback Claims; 90% Payments in 3 Days Targeted.</h1> The circular from the Ministry of Finance, Department of Revenue, outlines instructions for expediting the processing of Duty Drawback claims to reduce backlog and improve efficiency. It mandates that all pending claims be resolved by March 31, 2021, with a target of processing claims within seven working days. Additionally, it requires that at least 90% of Drawback payments be credited within three days and deposited into customer accounts within two days thereafter. Banks are instructed to credit refunds on the same or the next working day upon receiving the necessary documentation. Compliance with these timelines is emphasized, with a report on actions taken due by December 25, 2020.
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