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