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Home > All news > Export Import > CBIC initiates electronic disbursal of duty drawback amount directly to exporter’s Bank accounts through PFMS

CBIC initiates electronic disbursal of duty drawback amount directly to exporter’s Bank accounts through PFMS

June 7, 2024
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New Delhi - In an effort to facilitate trade, Central Board of Indirect Taxes and Customs (CBIC) will electronically disburse duty drawback amount directly to exporter’s bank account in a transparent and efficient manner with effect from 5th June, 2024.

The payment of duty drawback amounts into the exporters' accounts will be facilitated through the Public Finance Management System (PFMS) automatically. This is another initiative of the CBIC towards paperless Customs and enhanced trade facilitation.

This new functionality is expected to reduce time taken for payment of drawback amount by eliminating manual intervention in . . .

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Disclaimer: This information has been collected through secondary research and Daily Shipping Times is not responsible for any errors in the same.

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