EXTENSION OF TIME UPTO 30TH SEPTEMBER 2013, FOR USING RE-CREDITED 4% CVD (SAD) AMOUNT IN DEPB-REGARDING

Circular No:- 18 /2013-Customs

Dated:- 29/04/2013.

Circular No.27/2010-Customs, dated 13.08.2010, regarding procedure on refund of 4% Special Additional Duty (SAD) provides the facility of manual filing of Bill of Entry for utilizing the amount of re-credited 4% SAD refunds for payment of duty in case of re-credited DEPB/ Reward Scheme scrips upto 31-03-2012.

Circular No. 10/2012-Customs dated 29.03.2012 further extended the time upto 30.06.2012 utilizing the amount of re-credited 4% SAD refunds for payment of duty in case of re-credited DEPB/ Reward Scheme scrips.

References have been received from trade in the Board that importers have not been able to utilize the re-credited amount of 4% SAD and it has been decided to extend time limit for using re-credited DEPB scrips/ Reward Scheme scrips in case of 4% SAD upto 30.09.2013.

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 30-06-2013. The Chief Commissioner may constitute a special team to liquidate these refund claims. The report in this regard should be sent to Board by 04-07-2013.

Board also reiterates Para 8 of Board’s Circular No. 27/2010-Customs, dated 13-08-2010 that in future exporters should pay SAD component in cash if they want a refund.

It is emphasized that this is the final extension of time limit for reusing re-credited DEPB Scrips/Reward Scheme Scrips.

Regards

CA. Mona Singhal

Partner

Arpit Gupta & Associates

Chartered Accountants

701, Nirmal Tower,

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Connaught Place, Delhi-110001

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