Export duty & Duty Drawback
This query is : Resolved
Gurmeet Sukhija
(Querist)
10 December 2008
Respected Experts,
Please explain me the concept of export duty & duty drawback (what it is & how it is claimed?)
Thanks
Please explain me the concept of export duty & duty drawback (what it is & how it is claimed?)
Thanks
CA Pradeep Malhotra
(Expert)
10 December 2008
DEPB and Duty drawback are export promotional secmemes of Govt under which exporters are entilted to get the refund of taxes/duties/excise paid and which forms part of cost of product to be exported out of India subject to fulfilment of specific conditions under respevtice schemes.
DEPB is granted in the form of Licences to exporters to import the goods duty free or at conecessional rate of custom duty. In case the exporter does not import and manufacture its product with all local material then in that case he can transfer the DEPB license to other exporters at market rates
Duty drwaback is credited to account of exporter maintained at respetive port/ICD of export at the time of proceesing of shipping bills/dcouments etc
Thanks
DEPB is granted in the form of Licences to exporters to import the goods duty free or at conecessional rate of custom duty. In case the exporter does not import and manufacture its product with all local material then in that case he can transfer the DEPB license to other exporters at market rates
Duty drwaback is credited to account of exporter maintained at respetive port/ICD of export at the time of proceesing of shipping bills/dcouments etc
Thanks
CA Pradeep Malhotra
(Expert)
10 December 2008
DEPB and Duty drawback are export promotional secmemes of Govt under which exporters are entilted to get the refund of taxes/duties/excise paid and which forms part of cost of product to be exported out of India subject to fulfilment of specific conditions under respevtice schemes.
DEPB is granted in the form of Licences to exporters to import the goods duty free or at conecessional rate of custom duty. In case the exporter does not import and manufacture its product with all local material then in that case he can transfer the DEPB license to other exporters at market rates
Duty drwaback is credited to account of exporter maintained at respetive port/ICD of export at the time of proceesing of shipping bills/dcouments etc
Thanks
DEPB is granted in the form of Licences to exporters to import the goods duty free or at conecessional rate of custom duty. In case the exporter does not import and manufacture its product with all local material then in that case he can transfer the DEPB license to other exporters at market rates
Duty drwaback is credited to account of exporter maintained at respetive port/ICD of export at the time of proceesing of shipping bills/dcouments etc
Thanks
Gurmeet Sukhija
(Querist)
10 December 2008
Thank u Sir
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