Regarding refund of 4% CVD (SAD)-Extension of time upto 30th June 2012, for using re-credited 4% CVD (SAD) amount in DEPB
March, 30th 2012
Government of India
Ministry of Finance
Department of Revenue
Central Board of Excise and Customs
North Block, Room No. 253-A,
New Delhi, the 29thMarch 2012.
All Chief Commissioners of Customs/Customs (Prev.),
All Chief Commissioners of Customs & Central Excise,
All Commissioners of Customs/Customs (Prev.),
All Commissioners of Customs & Central Excise.
Subject:-Refund of 4% CVD (SAD)-Extension of time upto 30thJune 2012,forusing re-credited 4%CVD (SAD)amount in DEPB-Regarding.
Sir / Madam,
Your kind attention is invited to theCircular No.02/2012-Customs, dated 16-02-2012,regarding procedure on refund of 4%CVD (SAD).The above Circular provides the facility ofmanual filing of Bill of Entry for utilizing the amount of re-credited 4% CVD refunds (SAD) for payment of dutyin case ofre-credited DEPB/ Reward Scheme scrips upto 31-03-2012.
2.The matter has been examined in consultation with Director General of Foreign Trade (DGFT) andit has been decided to extendtime limit for using re-credited DEPB scrips/ Reward Scheme scrips in case of 4%CVD (SAD)upto30-06-2012.
3.Board also directs all Chief Commissioner of Customs to ensure that all pending application for refund of 4% SAD paid through DEPB/reward scrips are disposed of by 30-04-2012. The Chief Commissioner may constitute a special team to liquidate these refund claims. The report in this regard should be sent to Board by04-05-2012.
4.Board also reiterates Para 8 of Boards Circular No. 27/2010-Customs, dated 13-08-2010 wherein it was mentioned that in the interest of ensuring expeditious grant of refund of 4% SAD, the importers may be advised to make the initial payment of 4% CVD in cash. DGFT has also informed that no re-crediting shall be done if such payment is made by means of scrips. In other words, in future exporters should pay SAD component in cash if they want a refund.
5.A suitable Public Notice and Standing Order may be issued for the guidance of the trade and staff.