HAPPY INTERMISSION IN ‘SAD’ MOVIE

Prepared By: -

CA. Pradeep Jain

CA. Preeti Parihar

Sukhvinder Kaur, LLB(FYIC)

Introduction: -



The importer-dealers are over the moon these days. Their SAD-ness is going to turn into happiness. Government granted exemption to the importers from Special Additional Duty which is levied @ 4% under Section 3(5) of the Customs Tariff Act, 1975 by way of refund. But due to a no. of procedural formalities and slackness at the departmental end, 80% of the claims were reviewed as pending at the major custom houses as on 31.3.2010. This induced the Board to issue a Circular for fixing a time limit for granting the refund of SAD. This critique is about the happy intermission of the SAD refund movie.
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