« Top Headlines » Open DEMAT Account in 24 hrs  ITR filing deadline extension now demanded by this Tax Bar Association due to many issues including technical glitches with ITR portal  GST Rule Changes for FY 2025 26  Income tax return filing 2025: Five ITR mistakes that can trigger an income tax notice in 2025  ITR filing What is updated income tax return and ITR U Who can file & what you can t change - top points to know  Shifted to new tax regime? Here are 5 investments you shouldn't drop  Auditing and Assurance Standards Board Expert Panel for addressing queries related to Statutory Audit pertaining to auditing aspects. «  I-T officials search 30 chemical units in Maharashtra,... IT raid on premises owned by cricketer Gautam Gambhir's... » Govt to cut paperwork for exporters' tax refund October, 11th 2007 Government will credit the amount of tax refund arrears accrued to exporters, as a result of the hike in duty drawback rates announced in July as part of a Rs 1,400-crore relief package to the rupee-hit export sector, directly to their accounts. The Central Board of Excise and Customs (CBEC) has notified this measure after exporters expressed to the government their inconvenience arising out of avoidable paperwork, both for the them as well as the customs houses. "The matter has been considered by the Ministry and it has been decided to give one time relaxation to exporters from filing supplementary claims against all EDI shipping bills, in respect of which Let Export Orders (LEOs) were given by the customs authorities during April 1, 2007 to July, 17 2007," the notification said. The government had announced in July, increase in duty drawback rates with retrospective effect from April 1. Trade bodies had requested that the differential drawback amount, which has become due to the exporters because of the increase in drawback rates, may be automatically credited into their accounts by the EDI system of customs houses without filing supplementary claims against each EDI shipping bill. "Accordingly, the differential drawback amount which has become due to exporters against exports effected through EDI during this period may be paid to them without their having to file supplementary claims," the notifications stated. However, in case of manual shipping bills the exporters shall be required to file supplementary claims. Federation of Indian Export Organisations (FIEO) welcomed the measure, stating that it would ease exporters' burden and avoid cumbersome paperwork.