Duty Draw Back


This query is : Resolved 

31 August 2010 sir

Please explain the Duty Draw Back in a simple manner.

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.

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.

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.

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.



You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now



Similar Resolved Queries


loading


Unanswered Queries



CCI Pro



Answer Query



Company
Featured 11 September 2026
Audit Executive

RBSM Corporate Advisors Private Limited

Pune

CA

View Details
Company
21 August 2026
Finance Manager

Resollect Technologies Pvt Ltd

Mumbai

CA

View Details
Company
08 September 2026
Semi-Qualified Assitant

Subrahmanyam & Sivudu CA Firm

Hyderabad

CA Inter

View Details
Company
ARTICLESHIP 17 August 2026
CA Article Trainee

ASC Group

Noida

CA Inter

View Details
Company
ARTICLESHIP 24 August 2026
Article Assistant

M/s.S.G.Salecha & Co.

Mumbai

CA Inter

View Details
Company
29 August 2026
Chartered Accountant

Velionit Consulting PVT LTd

Mumbai

CA

View Details
Company
ARTICLESHIP 07 September 2026
CA Articles

Kothari Jain Patil & Chartered Accountants

Pune

CA Inter

View Details
Company
21 August 2026
Accountant

A G International

Kolkata

B.Com

View Details