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Refund of 4% CVD (SAD) — Extension of time upto 31st March 2012 for using re-credited 4% CVD [SAD] amount in DEPB - Customs - PUBLIC NOTICE NO. 55/2012Extract GOVERNMENT OF INDIA MINISTRY OF FINANCE, DEPARTMENT OF REVENUE OFFICE OF THE COMMISSIONER OF CUSTOMS CUSTOM HOUSE, NEW No.60, RAJAJI SALAI, CHENNAI - 600 001. File No. S. Misc/139/2010-DEPB Dated: 08.02.2012. PUBLIC NOTICE NO. 55/2012 Sub: Refund of 4% CVD (SAD) - Extension of time upto 31 st March 2012 for using re-credited 4% CVD [SAD] amount in DEPB - regarding. Kind attention of the Trade is invited to this Commissionerate Public Notice No.82/2010 dated .15.09.2010 issued on the basis of CBDC circular No. 27 / 2010- Cus dated 13.082010 regarding the procedure for refund of 4% CVD (SAD}. The above Public Notice/ circular provides the facility of manual filing of Bill of for utilizing the amount of re-credited 4% CVD (SAD) refunds for payment of duty by debits to the re-credited DEPB/Reward Schcme scrips upto 30.12.2010 which was'. subsequently extended upto 30.06.2011 and further extended upto 15.09.2011 vide Board Circular No 11/2011-Cus Dated 24.02.2011 and 30/2011- cus dated 19.07.2011 respectively. However, several representations have been received from trade and industry by the CBDC to extend the time limit for using re-credited 4% CVD {SAD) amount in DDPB as they have not been able to utilize the re-credited DEPB/Reward Scheme scrips within the stipulated time. 2. The matter has been examined by CBEC and it has been decided to extend time limit for using re-credited DEPB Scrips/Reward Scheme scrips in case of 4% CVD (SAD) upto 31st March 2012. and no further extension shall be given under any circumstances. 3. In this context, the importers are also advised to note that re-credit amount of CVD refund should be used for payment of .ECD and CVD only and not for payment of 4% CVD [SAD) so as to avoid cascading of subsequent re- credit of 4% CVD in the relevant scrips. Authority: CBEC Circular No.02/2012 dated 16.01.2012 (ALOR SHUKLA) COMMISSIONER or CUSTOMS (EXPORTS)
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