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Duty draw back on short remittance of export proceeds

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Querist : Anonymous

Querist : Anonymous (Querist)

04 September 2015 Dear Sir,

I have exported goods to a customer, who has rejected the goods and sold in the same country to another customer. The second customer accepted and remitted the foreign currency after deducting a claim of 24.95% and remitted only 75.05%.
In this case, whether I have to surrender the proportionate portion of Duty Draw Back to Customs for the short realisation.
Kindly advise with relevent notifications please.
Best Regards

RAMESH KUMAR VERMA

RAMESH KUMAR VERMA (Expert)
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07 September 2015 Approval of the Reserve Bank of India is not required if, after goods have been shipped, they are to be transferred to a new buyer in the event of default by
the original buyer, provided the reduction in value, involved does not exceed 25 per cent of the invoice
value.

You must surrender the excess dbk to the custom.

Querist : Anonymous

Querist : Anonymous (Querist)

12 September 2015 Thanks a lot for your kind reply.
Best Regards

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