Utilizing Refunded SAD for Duty Payment (DEPB) - Extended Again
CBEC Circular No , dated 13.08.2010, provided the facility of manual filing of Bill of Entry for utilizing the amount of re-credited 4% CVD (SAD) refunds for payment of duty in case of re-credited DEPB/Reward Scheme scrips upto 30.12.2010. However several representations have been received from trade and industry to extend the time up to 30th June, 2011 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.
By Circular No., dated 24.02.2011, Government had extended this time till 30.06.2011. Still there were representations that the trade could not use this facility within the stipulated time.
So, a benign Government had extended it till 15.09.2011 by Circular No. dated 19.07.2011, with a rider that no further extension shall be given.
Now they have further extended it till 31.03.2012, with a rider that "No further extension shall be given under any circumstances."
CBEC Circular No. 02/2012-Cus., Dated: January 16, 2012