New Delhi, Oct 24 (KNN)  India's Central Board of Excise and Customs has asked commissioners of both excise and customs to ensure that the claims of rebates of exporters are settled within 30 days of the receipt of the complete papers.
 
The board issued these instructions to the field formation on a petition by the Federation of Indian Chambers of Commerce and Industry (FICCI) urging it to reduce the time period from 90 days to 30 days for settlement of claims on export rebates.
 
“The matter has been examined. It is seen that while the 90 days prescribed under Section 11BB of the Central Excise Act, 1944 is the outer limit after which interest becomes payable, there is nothing to prohibit processing and disposal of claims much earlier….all efforts should be made to ensure that the claims of rebate are disposed of within 30 days from the date of receipt of the claim complete in all respect, except those requiring pre-audit.  Further, claims requiring pre-audit may also be processed expeditiously,” a senior CBEC official wrote to the commissioners and chief commissioners.

He said the chief commissioners should also put in place a monitoring mechanism to carry out these instructions.  (KNN/PC)