Speedy disbursal of pending refund claims of exporters of services
The Central Board of Excise and Customs released a Circular outlining its scheme to fast track sanction of refunds of accumulated CENVAT credit to exporters of services. The scheme is applicable to service tax registrants eligible to claim refund under Rule 5 of the CENVAT Credit Rules, 2004 filed on or before 31.3.2015. The scheme purports provisional payment of 80 per cent of the amount claimed as refund to the claimant within five days of receipt of documents.
Tags : CENVAT CREDIT FAST TRACK REFUND