TaxTMI 
TaxTMI 
Introduction of electronic payment/remittance of sanctioned refund amounts by way of RTGS/ NEFT facility offered by the SBI, Kandla for every sanctioned refund claims
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....016 Facility Notice No. 07/2016 Sub: Introduction of electronic payment/remittance of sanctioned refund amounts by way of RTGS/ NEFT facility offered by the SBI, Kandla for every sanctioned refund claims Kind attention is invited to the procedure followed by the field formations for payment of refund. Presently, most of the field formations follow the manual handing over/ dispatch of cheq....
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....ds up the transfer of the fund directly to the beneficiary's bank account but also reduces the personal interface. 3. The following procedure for e-payment of refund is hereby prescribed for implementation: I. E-Payment through Authorized Banks. a) The sanctioned refund payments through RTGS/NEFT facility shall be made by the field formations through State Bank of India, K....
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....t (copy of sample format enclosed as Annexure-B to the Circular) of sanctioned orders which inter alia contains details of the beneficiaries and the amounts sanctioned, ii. a cheque in favour of the bank as mentioned above for the consolidated refund amount, iii. a soft copy of the above statement to the banks through e- mail. c) Upon receipt of the statement signed by t....
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....O concerned at the end of each month enclosing the details of cheques issued with date and amount. A sample copy of the enclosure to the letter to PAO is enclosed as Annexure-C to the Circular. The format of Annexure-C, if needed, may be locally amended/modified. c) After transfer of the amounts to the claimants, the bank shall generate 'periodic scroll' containing the details of ....