Duty Claim
This query is : Resolved
21 July 2010
Dear Members,
What is the Duty Drawback cliam.?
We have imported the some material in March-2010 from china. now we want to export this to Dubai.( Not used in manufacturing or not use in processing, means as it is, the material we imported.)
Is there any relief in custom duty , we paid at the time of import?
if yes , pls tell me the procedure and how much we can claim......
pls reply...
Regards
Gaurav Sharma
What is the Duty Drawback cliam.?
We have imported the some material in March-2010 from china. now we want to export this to Dubai.( Not used in manufacturing or not use in processing, means as it is, the material we imported.)
Is there any relief in custom duty , we paid at the time of import?
if yes , pls tell me the procedure and how much we can claim......
pls reply...
Regards
Gaurav Sharma
24 July 2010
GAURAV SHARMA JI,
Drawback Is The Refund Of Duties, Taxes, And Fees Imposed On Imported Merchandise Which Is Subsequently Exported The Items.
IF YOU EXPORT AND GOODS RETURNED BY BUYERTHEN:-
DRAWBACK FOR USED GOODS - If the imported goods are used before re-export, the drawback will be allowed at a reduced percentage [section 76(2) of Customs Act, 1962]. If the goods were in possession of the importer, they might be treated as used by the importer. As per the rules framed by Central Government, the table is as follows : (a) use upto 6 months ; 85% (b) 6 months to 12 months : 70% (c) 12 months to 18 months : 60% (d) 18 months to 24 months : 50% (e) 24 months to 30 months : 40% (f) 30 months to 36 months : 30% (g) over 36 months : Nil. Drawback is allowed if the use is over 24 months only with permission of Commissioner of Customs if sufficient cause is shown.
IN VIEW OF ABOVE YOU MUST NOW AS PER FTP(2009-2014):-
AFTER IMPORTATION, IF YOU HAVE PAID CVD, YOU CAN FILED REFUND OF 4% ADDITIONAL DUTY OF CUSTOMS (4% CVD) IN PURSUANCE OF NOTIFICATION NO.102/2007-CUSTOMS DATED 14.09.2007
REGARDS
Drawback Is The Refund Of Duties, Taxes, And Fees Imposed On Imported Merchandise Which Is Subsequently Exported The Items.
IF YOU EXPORT AND GOODS RETURNED BY BUYERTHEN:-
DRAWBACK FOR USED GOODS - If the imported goods are used before re-export, the drawback will be allowed at a reduced percentage [section 76(2) of Customs Act, 1962]. If the goods were in possession of the importer, they might be treated as used by the importer. As per the rules framed by Central Government, the table is as follows : (a) use upto 6 months ; 85% (b) 6 months to 12 months : 70% (c) 12 months to 18 months : 60% (d) 18 months to 24 months : 50% (e) 24 months to 30 months : 40% (f) 30 months to 36 months : 30% (g) over 36 months : Nil. Drawback is allowed if the use is over 24 months only with permission of Commissioner of Customs if sufficient cause is shown.
IN VIEW OF ABOVE YOU MUST NOW AS PER FTP(2009-2014):-
AFTER IMPORTATION, IF YOU HAVE PAID CVD, YOU CAN FILED REFUND OF 4% ADDITIONAL DUTY OF CUSTOMS (4% CVD) IN PURSUANCE OF NOTIFICATION NO.102/2007-CUSTOMS DATED 14.09.2007
REGARDS
Message likes :
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24 July 2010
Thank u Mr. Rakesh Kumar Verma
Regards
Gaurav Sharma
Regards
Gaurav Sharma
24 July 2010
welcome in ca club india
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