Re-credited DEPB can be Used Till 30 March 2012

[CBEC Circular No. 02 dated 16^th January 2012]

Subject: Refund of 4% CVD (SAD)-Extension of time upto 31^st March 2012, for using re-credited 4% CVD (SAD) amount in DEPB.

Your kind attention is invited to the Circular No.30/2011-Customs, dated 19.07.2011, regarding procedure on refund of 4% CVD (SAD). The above Circular provides the facility of manual filing of Bill of Entry for utilizing the amount of re-credited 4% CVD refunds (SAD) for payment of duty in case of re-credited DEPB/ Reward Scheme scrips upto 30.06.2011. However several representations have been received from trade and industry to extend the time limit 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.

2. The matter has been examined and it has been decided to extend time limit for using re-credited DEPB scrips/ Reward Scheme scrips in case of 4% CVD (SAD) upto 31.03.2012. No further extension shall be given under any circumstances.

3. A suitable Public Notice and Standing Order may be issued for the guidance of the trade and staff.

F.No.401/46/2008-Cus.III(Pt.)