TaxTMI 
TaxTMI 
Simplification of procedure for claiming 4% SAD refund
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....implification 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 also invited to the Board's Circulars No. 24/2007- Customs....
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....o 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 Challans (in original) for CVD payment; (b) VAT/ST payment Challan....
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....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 extend this facility on optional basis to all Other Customs format....
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....assed 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 cases. It may also be noted that recently the Board has also notified ....