CBIC electronically disburses duty drawback amounts to exporters via PFMS platform, reducing payment time and increasing transparency.
CBIC has started electronically disbursing duty drawback amounts directly to exporters' bank accounts, utilizing the Public Finance Management System (PFMS) platform. This initiative aims to reduce payment time, eliminate manual intervention, and increase transparency in the drawback disbursal mechanism. The move is part of CBIC's efforts to improve trade facilitation and promote a paperless Customs system.
June 05, 2024
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