Terminal Excise Duty Refund - Rs. 600 Crores released
If you have any refund claims pending with the DGFT, this is the time to rush and get your claims settled.
The Government has released a further sum of Rs. 600 crore to regional authorities of DGFT for payment of pending claims of Terminal Excise Duty and Duty Drawback under deemed export scheme. The Government has also released Rs. 200 crore to the Development Commissioners of Special Economic Zones for payment towards pending claims of Central Sales Tax (CST) in respect of supplies made to 100% Export Oriented Units (EOUs).
There is a general opinion that it is very difficult to get a refund from the Customs and Central Excise Department but those having a little refund experience with DGFT will find that getting a refund of Central Excise Duty is as easy as withdrawing from your bank account.
Anyway, they have money now – claim it NOW.