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

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

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....by Registered Post or handed over to the authorized person and acknowledgement is obtained. The present procedure entails paper work and man power deployment by the claimants as authorized persons are required to visit the departmental offices for collection of refund cheques. There are also instances where cheques are returned due to incomplete address or change in address or some other clerical errors. All these lead to delay in realization of refund amounts by the claimants. Therefore, as a trade facilitation measure, the facility for payment of refund amount directly to assessee's/exporter's bank account is being introduced for all refunds /rebates sanctioned by the Competent Authorities of Bangalore V Central Excise Commissione....

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.... Branch (Focal Point Branch for Government Transactions)Avenue Road Entrance, Mysore Bank Circle, Bengaluru -560002 Ph: 080-22107344. iv. The refund sanctioning authority would forward to the above bank 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 original received from the claimant and (iv) Soft copy of the above statement to the banks through e-mail. v. Duplicate copy of the authorization letter from the claimant will be retained by the respective refund sanctioning authorities. vi. It is clarified that the banks may charge the ....

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.... Address Telephone/Mobile No. Email ID BANK ACCOUNT DETAILS OF THE REGISTERED ASSESSEE/EXPORTER TO WHICH SANCTIONED REFUND AMOUNT IS TO BE DEPOSITED Name of the Bank Branch Bank Account No. IFS Code Type of Bank Account: Saving A/c Current Account I/We fully understand that any information furnished in the application if found incorrect or false will render my/us liable for any penal/action or other consequences as may be prescribed in law or otherwise warranted Place: Date. Signature Enclosed (1) Photocopy of a cancelled blank cheque Name Designation (Proprietor/Partner/Director/Authorized Signatory) BANK VERIFICATION Certified that above details are tallied with bank record and found correct Note Signature Name....

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