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of <h1>India Changes Duty Drawback Payment to PFMS for Exporters from June 2024, Streamlining Process and Direct Bank Transfers.</h1> The Government of India has announced a change in the disbursal process of Duty Drawback amounts to exporters. Effective from June 5, 2024, payments will be processed through the Public Finance Management System (PFMS) instead of the current method involving the Customs Automated System and authorized bank branches. The new procedure eliminates the need for printing Drawback scrolls and issuing consolidated cheques. Instead, Duty Drawback scrolls will be automatically processed and transmitted to a central nodal eDDO, which will forward them to the nodal ePAO for approval, after which funds will be credited directly to exporters' bank accounts linked with PFMS.
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