Dear Sirs.
As per Appendix 14-I-I of FTP, EOU are entitled to claim reimbursement of CST paid by them on procurement of material which is used in the manufacture of finished goods which is being exported.
For this purpose a certificate from CA in support of having made payment to the Vendor, was sufficient. In case, the payments were made by bank directly to the Vendor, as per advice from the EOU Unit, copy of Bank advices were sufficient for the purpose of sanction of reimbursement of CST.
In view of latest RBI guidelines, all payments needs to be made through RTGS (Real Time Gross Settlement), Bank does not issue any documentary evidence having made payment to the Vendor. Therefore, it would be very difficult to get the claim of reimbursement of CST processed and sanctioned by Develoment Commissioner.
Anyone facing such a difficulty, is requested to come-out with the comment/solution/representation, so that the issue can be addressed to the appropriate authority. .
Regards.
Dilip Darji.
CAclubindia
