Duty Draw Back

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kamal

kamal (Querist)

31 August 2010 sir

Please explain the Duty Draw Back in a simple manner.

CA PRAMOD SARAOGI

CA PRAMOD SARAOGI (Expert)

31 August 2010 Drawback’ refers to the amount of duties of Customs and Central Excise levied on the inputs of goods exported, which is remitted or paid back by Government on export of the Goods to a foreign country.

CA PRAMOD SARAOGI

CA PRAMOD SARAOGI (Expert)

31 August 2010 In other words Drawback means the refund /remmitence/paid back of duty of customs and Central Excise that are leviable on imported and indigenous materials used in the manufacture of exported goods.

CA Ravi Sisodia

CA Ravi Sisodia (Expert)

31 August 2010 duty draw back a kind of tool by which the govt give benifit to the exporter to set of the taxes he has paid on the input used in export.

ANIL JANGID

ANIL JANGID (Expert)

01 September 2010 Drawback of customs and excise duty paid on inputs - Drawback means the rebate of duty chargeable on any imported materials or excisable materials used in manufacture or processing of goods which are manufactured in India and exported. Export means taking out of India. Supply of stores for use in vessel or aircraft proceeding to foreign port is also covered, since it is treated as ‘export’ as per section 89 of Customs Act.

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