Payment of Drawback in the Exporter’s Core Banking Enabled Bank Account in Any Branch/ Bank Anywh

Sitting Judge of HC & ex-Member of ITAT in the list of 17 former and current Members of ITAT who are sought to be prosecuted by CBI for outsourcing writing of Orders to CA Firm-Members were posted in Mumbai Kolkata Ahmedabad Hyderabad Agra & Cuttack Benches of ITAT Law Ministry says that there is no sufficient evidence against ITAT Members Meaning of the expression ‘gross amount’appearing in Rule 3(1) of the Works Contract (Composition Scheme for Payment ofService Tax) Rules, 2007, as it stood prior 7th July 2009-ServiceTax Circular No.150 Budget to be presented on 16th March FM issues Advisory to CESTAT to ensure that orders are issued by Benches on conclusion of arguments and in complicated matters orders should be issued within 30 days Madras High Court stays levy of service tax on lawyers economic growth slows to 6.9 per cent Sunil Kumar appointed as Chief Secretary of Chattisgarh Amarchand Mangaldas to open offices in Chennai Ahmedabad & Pune US closes its embassy in Syria Sudha Sharma appointed as Member of CBDT Rupee hits a high of 48.73 against Dollar Laxman Das is Officiating Chairman of CBDT Tariff Value for import of gold is 556 & for silver 1067 & for Brass Scrap 4078 & for poppy seeds 2205-Customs Non-Tariff Notification No. 10 Fused Silica is classifiable under Tariff Item 32074000-Customs Circular No.3 Additional Commisssioner of Income Tax HA Siddiqui sentenced to 4 years imprisonment for accepting bribe of Rs 1 Lakh by CBI Court in Delhi HC upholds levy of service tax on booking of flats-The explanation which was inserted by the Finance Act of 2010 clearly brings within the fold of taxable service a construction service provided by the builder to a buyer where there is an intended sale between the parties whether before, during or after construction Authority for Advance Ruling rules super concentrates shall be classified as products of the chemical industry under heading 3824 90 90 of Customs Tariff Anti dumping duty imposed on import of Morpholine from China European Union & USA Anti dumping duty imposed on import of Geogrid/Geostrips/ Geostraps made of polyester or Glass fiber in all its forms from Refund of Anti-Dumping Duty (Paid in Excess of Actual Margin of Dumping) Rules, 2012 notified-Customs Non-Tariff Notification No.5 Customs Tariff (Identification, Assessment and Collection of Anti-dumping Duty on Dumped Articles and for Determination of Injury) Amendment Rules, 2012-Customs Non-Tariff Notification No.6 Safeguard duty at the rate of 10% ad valorem notified on import of Phthalic anhydride, falling under tariff item 2917 35 00-Customs SG Notification No.1 Customs duty on import of Gold, Silver, Cut & Polished Diamonds hiked Customs duty to be charged at the rate of 2 per cent of Tariff Value on gold and 6 per cent of Tariff Value on silver Tariff Value for import of gold & silver notified-Customs Non-Tariff Notification No.3 Anti-dumping duty on imports ofSilk fabrics 20-100 gms per metre, falling under heading 5007 originating in, or exported from, China-CustomsTariff Notification No. 2 Anti-dumping duty imposed on imports of Nylon Filament Yarn, falling under Chapter 54 ,originating in, or exported from, China, Chinese Taipei, Malaysia, Thailand and Korea RP-Customs TariffNotification No.3 Anti-dumping duty imposed on import of Phosphoric Acid of allgrades and all concentrations (excluding Agriculture/Fertilizer Grade) ,falling under tariff item 28092010, originating in, or exported from, Israel and Taiwan-Customs Tariff Notification No.4 Anti-dumping duty on imports of Cellophane Transparent Film , falling under Chapter 39 , originating in, or exported from, China-Customs TariffNotification No.5 Anti-dumping duty onimports of Saccharin, falling under Chapters 29, 30, 33 and 38 ,originating in, or exported from, China-Customs Tariff Notification No.7 Special Bench of ITAT rules the appellant is not entitled to set off carry forward business loss against the long term capital gain arising on sale of land used for the purpose business ITAT rules Long Term and Short Term gains / losses on sale of equity shares under Portfolio Management Scheme is business income and not Capital Gains HC rules the opinion of the AO may have been legally erroneous but this cannot be a ground for initiation of re-assessment proceedings Anti-dumping duty on ‘Caustic Soda’, originating in, or exported from, Saudi Arabia, Iran, Japan, USA & France-Customs Tariff Notification No.1 Cost Accountants can issue Certificates for the purpose of refund of 4% CVD-Customs Circular No.1 Customs duty on import from ASEAN nations lowered- Customs Tariff Notification No.127 deeper tariff cut on import from Malaysia notified- Customs Tariff Notification No.128 deeper tariff cuts on import from Korea notified- Customs Tariff Notification No.123 deeper tariff cuts on import from Srilanka & Pakistan under SAFTA notified- Customs Tariff Notification No.125 Schedule of Rates for Service Tax Refund to Exporters notified in supersession of Notification No.17/2009-Service Tax Notification No. 52 Customs duty on import of several products from specified countries lowered-Customs Tariff Notification No.113 Anti-dumping duty on ‘Sodium Hydrosulphite (SHS)’, falling under headings 2831 and 2832 , originating in, or exported from, China PR- Customs Tariff Notification No.111 CBEC specifies documents required for Registration of ServiceTax Customs duty on import of 532 Products from Singapore lowered-many products exempted from duty-Customs Tariff Notification No. 106 Government allows Rebate of excise duty on export of goods to Nepal under ARE-1 Procedure w.e.f. 1st March 2012-Central Excise Non-Tariff Notification No.24

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Circular No. 01/2008-Systems

F.No. IV (26)/33/2008-Systems
DIRECTORATE GENERAL OF SYSTEMS
& DATA MANAGEMENT,
CUSTOMS & CENTRAL EXCISE,
4th & 5th FLOOR, HOTEL SAMRAT,
CHANAKYAPURI, NEW DELHI – 110 021

New Delhi, the 24th June, 2008

Subject: -Payment of Drawback in the Exporter’s Core Banking Enabled Bank Account in Any Branch/ Bank Anywhere in the Country. – Reg.

I am directed to invite your attention to the above mentioned subject.

2. As per the existing Customs Procedure for computerised processing of drawback Shipping Bills and drawback claims under the Indian Customs EDI System (ICES) an exporter is required to open a bank account only with the authorized bank branch at the port of export . This has been done to enable direct credit of the drawback amount to their accounts, obviating the need for issue of cheques. The exporter has to indicate the bank account number in the prescribed declaration form. Shipments for exports under claim for drawback are not accepted in case the account number of the exporter in the authorized bank branch is not indicated in the declaration form.

3. With the introduction of CBS (Core Bank Solution) by the Public Sector and other banks and its expansion to a large number of branches/cities and other technology changes in the banking sector, there have been demands from the exporters and various trade associations, especially the Delhi Exporters’ Association, for crediting of drawback amount in the exporter’s core banking enabled bank account, in any branch/bank anywhere in the country. The matter has been examined in consultation with the Reserve Bank of India, Indian Banks’ Association and the Principal Chief Controller of Accounts, CBEC. It has now been decided to credit the drawback amount in the exporter’s account in any core banking branch of the authorized bank anywhere in the country. In respect of exporters whose accounts are not in the authorized banks at the EDI location but in some other bank, the facility of RTGS (Real Time Gross Settlement) and NEFT (National Electronic Fund Transfer) would be used to transfer the credit of drawback amount in the exporter’s account provided the concerned branch of the other bank is RTGS and NEFT enabled. The following procedures shall be followed in this regard:

i) An exporter desirous of exporting goods under claim of drawback will be required to declare to the customs authorities, at each port from where he is exporting goods under claim of drawback –

a) in case he wishes to have his drawback credited in any core banking branch of the bank authorized for drawback payment at that EDI location or any other bank other than the authorized bank (in any core banking enabled branch which is RTGS and NEFT enabled), the exporter will be required to declare to the customs authorities the Indian Financial Service (IFS) Code of the bank branch where he operates his bank account, in addition to the core banking enabled account number, bank name and address as per the prescribed format (enclosed with this circular). The IFS Code No. can be obtained by the exporter from his bank branch.

b) The exporter shall get the bank account declaration form certified by the bank branch, where he operates his bank account, and the certified copy of the form shall be produced by him before the designated Customs official for registration of the bank account. A copy of the certified declaration form shall also be submitted by the exporter to the authorized bank branch at the EDI location through which the drawback amount will be transferred.

c) After registration of exporter’s bank account number and IFS code with the customs authorities a check list will be given to the exporter and the exporter or his authorized representative shall verify the correctness of the account details and return the signed copy of the check list to the customs authorities.

d) Whenever there is a change in the exporter’s bank account number the above procedure is required to be followed by the exporter for fresh registration of new bank account number at each port of export from where he is exporting goods.

ii) The drawback claim, after being processed and sanctioned, will continue to be authorized for payment only through the customs authorized bank branch at the port of export. The customs authorized bank branch will take necessary action to credit the drawback amount in the exporter’s core banking enabled account of the same bank. In respect of accounts in any bank branch of other banks (Core banking, RTGS/NEFT enabled), the customs authorized bank branch will transfer the drawback amount through the RTGS/NEFT facility. These transactions, including the charges thereof, will be governed by guidelines issued by the RBI in this regard from time to time. Exporters can approach their bank for issuance of statement of such credits made in their accounts.

iii) The Customs authorized bank will also send reverse scroll to the Customs authorities as per the established procedure/ instructions issued in this regard.

4. With the introduction of this procedure it will no longer be mandatory for any new exporter to open a bank account only with the designated authorized bank branch at the port of export

5. It is proposed to introduce this procedure with effect from the July 1st, 2008 at the Jawahar Lal Nehru Custom House ( Nhava Sheva), ICD Tughlakabad, ICD Pataprganj and Air Cargo (Exports) NCH, New Delhi. Remaining ICES locations will implement the above procedure with effect from 15-07-2008. A suitable Public Notice and Standing Order may be issued for the guidance of the trade and staff. Difficulties faced, if any, in implementation of the revised procedure may be brought to the notice of the Directorate.

(Y.G. Parande)
Director General