What is Duty Drawback on export ?
13 Replies
Nidhi
(Chief Accountant)
(3150 Points)
Replied 31 July 2021
Duty Drawback is an export incentive scheme where duty paid on any imported material which r used to manufacture exported good than duty paid on same will be refunded subject to conditions.
Nidhi
(Chief Accountant)
(3150 Points)
Replied 31 July 2021
Drawback will be available
@ 98% of import duty, if exported without use.
@ Specified reduced rate if after use in india
@ 98% of import duty, if exported without use.
@ Specified reduced rate if after use in india
Sunny James
(Manager)
(57 Points)
Replied 31 July 2021
And how drawback available on imported material used to manufacture export goods ??
Nidhi
(Chief Accountant)
(3150 Points)
Replied 31 July 2021
In that case drawback bis allowed as per all industry rate of products
if no such rate is notified than you can apply for brand rate or special brand rate
if no such rate is notified than you can apply for brand rate or special brand rate
Nidhi
(Chief Accountant)
(3150 Points)
Replied 31 July 2021
Yes, 2 years from date of payment of export duty
Nidhi
(Chief Accountant)
(3150 Points)
Replied 31 July 2021
No, in that case there is no specific time limit
Sunny James
(Manager)
(57 Points)
Replied 31 July 2021
Time limit to file refund application , is its along with export order or thereafter ??
Nidhi
(Chief Accountant)
(3150 Points)
Replied 31 July 2021
Duty Drawback claim shall be filed within 2 years from let export order date.
Nidhi
(Chief Accountant)
(3150 Points)
Replied 31 July 2021
It's based on how much month you have used.
like used for up to 3 months than 95%
3 to 6 month than 85%
6 to 9 month than 75%
9 to 12 month than 70%
12 to 15 month than 65%
15 to 18 month than 60%
more than 18 month Nil
like used for up to 3 months than 95%
3 to 6 month than 85%
6 to 9 month than 75%
9 to 12 month than 70%
12 to 15 month than 65%
15 to 18 month than 60%
more than 18 month Nil
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