Circular No. 10/2012-Customs Duty, Dated- New Delhi, the 29th March 2012.

Subject:-  Refund of 4% CVD (SAD)-Extension of time upto 30th June 2012,  for using re-credited 4% CVD (SAD) amount in DEPB-Regarding.

Your kind attention is invited to the Circular No.02/2012-Customs, dated 16-02-2012, 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 refunds (SAD) for payment of duty in case of re-credited DEPB/ Reward Scheme scrips upto 31-03-2012.

2. The matter has been examined in consultation with Director General of Foreign Trade (DGFT) 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 30-06-2012.

3. 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 30-04-2012. The Chief Commissioner may constitute a special team to liquidate these refund claims. The report in this regard should be sent to Board by 04-05-2012.

4. Board also reiterates Para 8 of Board’s Circular No. 27/2010-Customs, dated 13-08-2010 wherein it was mentioned that in the interest of ensuring expeditious grant of refund of 4% SAD, the importers may be advised to make the initial payment of 4% CVD in cash. DGFT has also informed that no re-crediting shall be done if such payment is made by means of scrips. In other words, in future exporters should pay SAD component in cash if they want a refund.

5. 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)

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Category : Custom Duty (7113)
Type : Circulars (7879) Notifications/Circulars (32591)

0 responses to “Refund of 4% CVD (SAD)-Extension of time upto 30th June 2012, for using re-credited 4% CVD (SAD) amount in DEPB-Regarding”

  1. Sushil says:

    Hi Kailash, Do you get any respond from DGFT DELHI , We also hold some DEPB incase you get some clarification on recredit please share.

  2. kailash says:

    Having DEPB script with customs credit note and duely submitted to Mumbai DGFT before 15/09/11. Due to some discrepancy in amendment sheet, we further submitted to Mumbai DGFT. And now they say that we can not do anything and you have to approach CBEC Delhi. We have written several letters to CBEC, Delhi but till today no reply. Still holding DEPB in our hand. Please guide us what to do.
    thank you
    Kailash

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