« Top Headlines » Open DEMAT Account in 24 hrs  Mock Test Papers Series - I & II for Students appearing in CA Foundation January 2027 Examination.  Income Tax Rules 2026: CBDT Introduces Revised Form 161 for Penalty Waiver, Clarifies Misreporting Categories and Taxpayer Relief  ITR Filing and Income Tax Audit Deadline Extended: 5 Critical Things Taxpayers Must Know  Filing Belated ITR for AY 2026-27? Know Which Losses You Can Carry Forward and Which You May Lose  CBDT Extends Tax Audit Report Deadline to October 21, ITR Filing Last Date to November 21 for AY 2026-27  CBDT Extends AY 2026-27 ITR Filing Deadline for Tax-Audit Cases: New Dates and Key Compliance Details  Foreign Assets Missing From Your ITR? Income Tax Department Opens One-Time Disclosure Window  Tax Audit Deadline September 30: Why AIS, TDS and GST Figures May Not Match Your ITR and What Taxpayers Should Do  Tax audit deadline September 30: Common mistakes taxpayers should avoid  Your ITR says ‘verified’, but the refund hasn’t arrived? 5 reasons why your money could be stuck  Missed the ITR Deadline but TDS Refund Is Due? Here’s How You Can Still Claim Your Money «  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.