‘Special Refund and Drawback Disposal Drive’
Relief to MSME: CBIC announces ‘Special Refund and Drawback Disposal Drive’ for Faster Clearance of Refund Claims
On May 13, the Central board of Indirect Taxes and Customs (CBIC) launched the "Special Refund and Drawback Disposal Drive" to facilitate disposal of pending claims, which is a significant relief to MSMEs. The Special drive will go from May 15, 2021 to May 31, 2021.
Focusing on refunds and drawbacks, the drive aims at providing immediate relief to the business entities, especially MSMEs, which create an obligation to ensure that there is no delay.
In a bid to maximise the disposal, the CBIC directed the Principal Chief Commissioners/ Chief Commissioners to monitor the implementation within the short remained time ahead on a daily basis, and wherever required, in addition to suitably guiding the officers concerned. Moreover, it is important to coordinate this Special Drive with the major trade and industry associations (especially those that cater to exporters) for their assistance including submission of required documents from their members (if a claim is pending for want of a required document).
“Though the decision to process pending refund claims has been taken with a view to provide immediate relief to the taxpayers, due diligence is to be done before granting the refunds and drawback. All the relevant legal provisions, notifications, circulars and instructions must be followed while processing these claims,” the Board said.
"For facilitation of exporters, all communication should be done over e-mail wherever email id of the applicant is available,” the CBIC said, adding due diligence will be done before sanctioning any refund claims.
It was urged that amid such a difficult period of time, all officers concerned specially effort to liquidate the pending refund and drawback claims by May 31, 2021 and make the Special Drive a great success.