Thursday, 13 March 2014

CBEC Denies any Holding of Customs, Excise Duty and Service Tax Refunds/Drawbacks

The Central Board of Excise and Customs (CBEC) has denied the report that the Customs, Excise Duty and Service Tax refunds/drawbacks are being held-up by the Department. This was mentioned in a certain section of media attributing to a statement by President, Federation of India Export Organisations (FIEO) to the effect that Customs, Excise Duty and Service Tax refunds/drawbacks are being held-up by the Department.
            This is not correct.  The following statement will indicate that more amounts have been refunded in 2013-14 compared to the corresponding period in the previous year.
For the period April – February

(Rs. in crore)
Head
2012-13
2013-14
Increase (%)
Customs
14867
18144
22.0
Central Excise
17884
23154
29.5
Service Tax
  1328
  2111
58.9
Total
34079
43409
27.4

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