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CBEC issues guidelines for speedy disbursal of pending refund claims to exporters of services

Service Tax - By: - Bimal jain - Dated:- 16-11-2015 - The Central Board of Excise and Customs ( CBEC or the Board ) vide various Circulars/Instructions had laid down simplified procedures for sanction and disbursal of refundclaims in the past under various notifications. Now, the Board has issued yetanother circularin order to facilitate fast track sanction of refund of accumulated Cenvat credit to exporter of services vide Circular No. 187/6/2015-Service Tax dated November 10, 2015 ( the Circul .....

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issue of the Circular. Further, refunds which had been finalized earlier by issuance of an adjudication order but have been remanded back to the original sanctioning authority will not be covered under this scheme since re-examination of such claims will have to be done strictly in terms of the remand order of the Commissioner (Appeals)/ CESTAT/ High Court. Additional documents to be submitted:In addition to the specified documents required to be filed along with the refund claim, the following .....

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ed acknowledgement to the claimant. Thereafter, he will make a provisional payment of 80% of the amount claimed as refund, within 5 working days of the receipt of the documents. Further, the Board has prescribed other procedures as well for effective operation of the scheme. Monitoring and reporting: The claimant shall be required to submit an MIS report in the format specified in Annexure-4 to the Circular by the 10th of every month by email to st-cbec@nic.in. Further, Principal Commissioners/C .....

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