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of <h1>Central Board of Excise & Customs Mandates Quarterly Reporting of Excise Duty Refunds Over Rs. 50,000 to Relevant Authorities.</h1> The circular issued by the Central Board of Excise & Customs emphasizes the requirement for field formations to report refunds of Central Excise duties exceeding Rs. 50,000 to the relevant Commissioners of Income Tax and the Director General of Supplies and Disposals on a quarterly basis. This directive follows observations by the Comptroller and Auditor General (C&AG) that previous instructions, dated 1-2-1975 and 13-7-1975, were not being strictly followed. The Board mandates strict adherence to these reporting procedures to ensure compliance.
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