Payment of interest on delayed refund of Duty Drawback / TED on deemed exports

8.5.1

For application of Duty Drawback and Terminal Excise Duty refunds submitted on or after 06.08.2008, the period of 30 days will be counted from the date of receipt of complete application as provided in paragraph 9.10.1 of Handbook of Procedure Vol. I 2004-09 (updated as on 11.04.2008) and interest will be payable if the case is not settled within 30 days of receipt of complete application. In these cases, separate application for claiming interest is not required and a single cheque for main claim and interest can be issued to the claimant. However, separate account will be maintained by Regional Authorities for the amount of interest disbursed by them.

(Above Para 8.5.1 has been added vide PN. NO. 61/2008, DT. 06/08/2008)