Budget 2025 Proposes New Time Limit for Refund Claims under Customs Act

The Union Budget 2025 proposed a new time limit for filing refund claims under the Customs Act. The proposed amendment will ensure that taxpayers have a clear and predictable timeline within which they can claim refunds for overpaid duties. This change aims to enhance the efficiency and transparency of the refund process, reducing delays and disputes over refunds. The new time limit will streamline procedures for importers and exporters, ensuring they can recover excess duties in a timely manner. This is expected to improve cash flows for businesses and boost trade activities. The proposal reflects the government's commitment to simplifying and modernizing customs operations to support business growth.