CBIC Implements New Drawback Payment System from June 5, 2024

CBIC Implements New Drawback Payment System from June 5, 2024

The CBIC has issued Instruction No. 15/2024-Customs on May 29, 2024, detailing the disbursal of Drawback amounts into exporters’ accounts via the Public Finance Management System (PFMS), effective from June 05, 2024.

Currently, Duty Drawback claims are processed through the Customs Automated System (CAS), listed in a scroll/Computerised Customs Drawback Advice (CCDA), and sent to the Authorised Bank branch with a single consolidated cheque for payment to exporters’ accounts.

However, from June 05, 2024, the payment of Drawback amounts will be facilitated through PFMS. The following procedures will be discontinued:

Instead, the new procedure will be as follows:

The jurisdictional Principal Chief Commissioners/Chief Commissioners must ensure the following actions are completed before June 05, 2024:

A suitable Trade Notice should be issued to inform trade and staff. Any difficulties in implementing this instruction should be reported to the Board.

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