TaxTMI 
TaxTMI 
Simplification of procedure for claiming 4% SAD refund
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....(A) Dated: 02.08.2010 FACILITY No. 05/2010 Sub: Simplification of procedure for claiming 4% SAD refund Attention of trade and all concerned is invited to the Notification No. 102/2007- Customs dated 14.09.2007 and Board's Circulars No. 6/2008-Customs dated 28.4.2008 and No. 16/2008- Customs dated 13.10.2008 regarding refund of 4% Additional Duty of Customs (4% CVD). Attention is al....
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.... claims relate to 4% CVD cases. Hence, the Board has decided to further simplify the procedure for claiming 4% CVD in the following manner. 4.1. In respect of Accredited Clients registered with Customs in terms of Circular No. 42/2005 Customs dated 24.11.2005 (ACP clients), the amount of 4% C VD refund shall be sanctioned in full, on preliminary scrutiny of the following documents: (a) TR-6 Cha....
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....5. In order to enable timely payment of refund in case of 4% CVD, a system of optional facility of directly crediting the applicant's bank account, through RTGS (Real Time Gross Settlement) or NEFT (National Electronics Funds Transfer) System is being prescribed. This facility is already functioning in Mumbai Customs Zone-Il and has been found useful for the trade. Hence, Board has decided to ....
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.... satisfying the condition that the burden of 4% CVI) has not been passed on by the importer to any other person. Further, the importer shall also make a self-declaration along with the refund claim to the effect that he has not passed on the incidence of 4% CVD to any-other person. Hence, there is no need for insisting on production of audited Balance Sheet and Profit and Loss Account in these cas....