Refund of 4 per cent CVD (SAD)-Extension of time upto 30th June, 2011 for using re-credited 4 per cent CVD (SAD) amount in DEPB

Circular No.11/ 2011-Customs, New Delhi, the 24th February, 2011.

Subject:- Refund of 4% CVD (SAD)-Extension of time upto 30th June, 2011 for using re-credited 4% CVD (SAD) amount in DEPB.

Your kind attention is invited to the Circular No.27/2010-Customs, dated 13.08.2010 regarding procedure on refund of 4% CVD (SAD). The above Circular provides the facility of manual filing of Bill of Entry for utilizing the amount of re-credited 4% CVD (SAD) refunds for payment of duty in case of re-credited DEPB / Reward Scheme scrips upto 30.12.2010. However several representations have been received from trade and industry to extend the time upto 30th June, 2011 for using re-credited 4% CVD (SAD) amount in DEPB 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 in consultation with Ministry of Commerce. Accordingly, it has been decided to extend time limit for using re-credited DEPB / Reward Scheme scrips in case of 4% CVD (SAD) upto 30th June, 2011.

3.      A suitable Public Notice and Standing Order may be issued for the guidance of the trade and staff.

Yours faithfully,

(Vikas)

Under Secretary (Customs-III/VI)

Telefax-011-2309 5532

Fax-011-2309 2173

E-mail-uscusiii@nic.in

Internal circulation – As usual.

Related posts:

1. Refund of 4% CVD (SAD) in terms of Notification No.102/2007-Customs dated 14.9.2007 by re-crediting the DEPB scrip / reward scheme scrips
2. Easy Exit scheme extended upto 30th April, 2011
3. Clarification on the procedure to re-credit 4 percent Special Additional Duty (SAD) of Customs in DEPB, VKGUY, FPS FMS,MLFPS scrips
4. Export of Cotton Yarn not entitled to DEPB benefit under the DEPB Rate Schedule
5. Profit element on sale of DEPB, i.e., the amount in excess of sale proceeds over the face value is covered u/s 28(iiid)