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BHUMIKA GULATI (Querist)
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22 July 2010 I am doing the Audit of a manufacture concern,they import as well as export the goods.
AS per rule 18 and rule 19 ,they claim the excise duty and education cess and shec under rebate and LUT.....

MY QUESTION IS THAT WHEN THEY EXPORT THEIR GOODS ,THEY CAN CLAIM DUTY DRAW BACK FOR THE CUSTOM DUTY WHICH THEY PAY ON THE IMPORTED OF THE GOODS......

OR THEIR DEPB SCHEME ALSO IN WHICH THEY IMPORT THE GOOD ON THE BASIS OF ENTRY IN DEPB BOOKS SO THAT THEY DONOT HAVE TO PAY IMPORT GOOD

I AM CONFUSION WHETHER BOTH THE SCHEME CAN BE USE AT THE ONE TIME ,I MEAN DOTH DUTY DRAW BACK ASWELL AS DEPB

RAMESH KUMAR VERMA

RAMESH KUMAR VERMA (Expert)
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23 July 2010 DEAR BHUMIKA,
WHEN EXPORTER EXPORT THE GOODS AS PER TARIFF DIFFERENT RATE OF DRAWBACK PROVIDE BY THE MINISTRY OF COMMERCE(CUSTOMS) AND WHEN THE GOODS EXPORTED AS PER RBI GUIDELINES AFTER 21 DAYS OF SUBMIT THE GR IN BANK EXPORTER GAINED THE DUTY DRAWBACK WHICH IS MENTIONED IN SHIPPING BILL.

WHEN THE PAYMENT RELEASED BY THE CONSIGNEE, IF REDUCED PAYMENT RELEASE , WE SHOULD SUBMIT IN CUSTOM AFTER PAYMENT RELEASE , IF PAYMENT RELEASED AT SHORT , WE SUBMIT THE DUTY DRAWBACK RETURN WITH INTEREST WHEN WE AVAILED .

I INFORM YOU EITHER YOU TAKE THE INCENTIVE DEPB OR DRAWBACK ONE OF BOTH.

AT THE TIME OF EXPORT, OUR EXPORTED ITEMS FALLS IN DEPB 2% AND DRAWBACK 6%,(IN THIS CONDITION OUR CHAAPPLY THIS ITEM IN DBK)

DEPB LICENCE ISSUED BY DGFT IN LIEU OF SUBMIT THE ORIGINAL DOCUMENTS WITH INVOICE, BL AND BRC.

REGARDS

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