Introduction of facility of payment of rebate/refund claims amount Directly to the assessee /exporters' Bank Account

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....NG PB 5400 : QUEEN'S ROAD BANGALORE 560001 C. No. IV/06/01/2016/Tech-BI Date: 01.02.2016 TRADE NOTICE: 01/2016 SUB: Introduction of facility of payment of rebate/refund claims amount Directly to the assessee /exporters' Bank Account-Reg. Consequent to sanction of rebate [refund claims by the competent authority, cheques are being issued and the same are sent by Registered....

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....rocedure is prescribed for implementation of the above facility' PROCEDURE i. For all fresh claims filed on or after 10.02.2016, the claimants shall provide one time authorization in duplicate duly certified by the beneficiary bank in the format Annexure A enclosed to this Trade Notice along with a cancelled cheque containing IFS code. For all subsequent claims, the claimant shall ....

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....Bangalore Canara Bank, Cantonment Branch, M.G. Road, Bangalore iv. The refund sanctioning authority would forward to the above banks at regular intervals, (i) Signed statement in format Annexure B enclosed to this Trade Notice containing the list of beneficiaries (ii) A cheque in favour of the Bank as mentioned above for the consolidated refund amount (iii) Authorization letter in orig....