Time limit for using re-credited DEPB/Reward Scheme Scrips in case of 4% CVD (SAD) Extended by CBEC

 Circular No.02/2012-Customs 

F.No.401/46/2008-Cus.III(Pt.)

Government of India

Ministry of Finance

Department of Revenue

Central Board of Excise and Customs

North Block, Room No. 253-A,

New Delhi, the 16^th January 2012.

To,

All Chief Commissioners of Customs/Customs (Prev.),

All Chief Commissioners of Customs & Central Excise,

All Commissioners of Customs/Customs (Prev.),

All Commissioners of Customs & Central Excise.

Subject:-   Refund of 4% CVD (SAD)-Extension of time upto 31^st March 2012,  for using re-credited 4% CVD (SAD) amount in DEPB-Regarding.       

                                                  

Sir / Madam,

            Your kind attention is invited to the Circular No.30/2011-Customs, dated 19.07.2011, 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 15.09.2011. However several representations have been received from trade and industry to extend the time limit 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 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 31.03.2012. No further extension shall be given under any circumstances.

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)