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of <h1>India's Finance Ministry Updates Rule 56A for Central Excise Duty Refunds on Raw Materials.</h1> The circular issued by the Ministry of Finance, Government of India, amends the procedure for refunding Central Excise duty under Rule 56A concerning proforma credit on raw materials or component parts. The revised procedure mandates that the Assistant Collector of Central Excise at the factory of origin first sanction the refund without immediate payment. The officer at the consignee factory must then debit the amount from the relevant account and inform the Assistant Collector. Once confirmations are received from all involved officers, the Assistant Collector can proceed with the refund payment. This procedure should be communicated to the trade through appropriate notices.
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