DUTY DRAWBACK

meenakshi (a) (38 Points)

17 January 2011

I WANT TO KNOW ABOUT DUTY DRAWBACK SYSTEM AND HOW TO VERIFY DUTY DRAWBACK AMOUNT

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RAMESH KUMAR VERMA ( CS PURSUING ) (43853 Points)
Replied 17 January 2011

Drawback is the refund of duties, taxes, and fees imposed on imported merchandise which is subsequently exported.

u can verified it from the ep copy of shipping bill foreign currency (FC) WITH the BRC COLUMN NO.14, AFTER RELEASED THE AMOUNT.

(WHICHEVER IS LESS)

Neerali (Student) (63 Points)
Replied 28 February 2011

But sir according to act refund is granted on in case wher ther is excess payment..

DAYANANDA K N (ACCOUNTS EXCECUTIVE) (575 Points)
Replied 02 March 2011

Draw back refers to rebate of duty paid on imported or excisable goods. Tthere is nothing like refund of excess payment.

Such rebate is subjcet conditions laid down under "The Customs, Central Excise Duties and Service Tax Drawback (Amendment) Rules, 2006."

Regards

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