Plz guide me,what is duty drawback?
is there any rate applicable for it?
and what is Shipping forwarding charges and textile committee cess?
1 Replies
Rajesh Kumar
(Advocate- Tax)
(7806 Points)
Replied 06 January 2009
Duty drawback is a mechanism through which custom and excise duty suffered by a commodity is returned to the exporter. It is in consonance with the principle that goods should be exported, and not the taxes. Duty drawback is of two type- duty drawback of custom duty paid at the time of export of imported goods (Sec 74 of Custom Act). The other type is drawback of duty suffered on the inputs on the export goods. This is granted under Section 77 & Custom & Central Excise Drawback Rules. Regarding the rates of drawback, there is all industry rate, or Brand rate or special brand rate.
Shipping & Forwarding charges are commercial charges for shipping and freight frowarding of your goods. Textile cess is a cess imposed in cerain condition on textile.
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