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Income tax on export incentive ( depb )

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Querist : Anonymous

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Querist : Anonymous (Querist)
22 September 2013 We are exporting chemicals to European country. We are getting export incentives and Duty Draw Back in every consignment.

Is the incentive amount covers in our income ?
Is the duty draw back amount taxable ?
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
22 September 2013 i) Export incentive is taxable u/s 28 (iv) (b).

ii) Duty draw back is taxable u/ 28(iv)(c).

iii) Profit on transfer of DEPB is also taxable u/s 28(iv)d).
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