duty drawback & DEPB

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hardik

hardik (Querist)
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16 January 2009 what is duty drawback & DEPB?
please provide with detailed explanation

ravi

ravi (Expert)
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16 January 2009 duty drawback & depb are both scheme, they r given by govt. to encourage the foreign currence into the country.

DRAWBACK:
while doing the export thru drawback, firstly while filling the shipping bill at customs, u have to open Drawback account at customs & port bank, after once everything is ok u can export, and u may get the Drawback amount within couple of days.

DEPB:
it is scheme u get the amount from your respective DGFT office, you have to get shipping bills (EP COPY, DEPB COPY) from the customs. Once your export bill is cleared at your bank, you have to take Bank Realisation Certificate (BRC)
Online filling to be done and hard copy of application has to be submitted along with SHIPPING BILLS (EP COPY & DEPB COPY) & BRC.

regards
k.ravi

RAMESH KUMAR VERMA

RAMESH KUMAR VERMA (Expert)
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08 September 2010 Agree with mr Ravi in rare cases some Exported items depb applicable and some items drawback BENEFIT BECOMES LESS THAN DEPB OR DRAWBACK RESPECTIVELY.

FOR MORE INFO:https://exim.indiamart.com/act-regulations/custom-central-excise-duties-drawback-rules.html

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