Procedure to surrender export incentive
This query is : Resolved
29 April 2025
We are an exporter of medical products and are eligible for the duty drawback. We exported the product to our customer against an advance payment. Currently, the customer has returned the product as he is unhappy. We have to surrender the duty drawback. Please advise.
29 April 2025
Rule 18 of the Customs and Central Excise Duties Drawback Rules, 2017, states that if the sale proceeds are not realized, the drawback paid will be recovered by customs authorities.
If the goods are returned and re-imported, you must inform customs and repay the drawback amount. This is because the export benefit was granted on the basis of the export, which is now nullified by the return of goods
Notify your authorized agent/bank and customs authorities about the return and initiate the process to repay the drawback amount.
If the goods are returned and re-imported, you must inform customs and repay the drawback amount. This is because the export benefit was granted on the basis of the export, which is now nullified by the return of goods
Notify your authorized agent/bank and customs authorities about the return and initiate the process to repay the drawback amount.
Message likes :
1 times
30 April 2025
Sir, Thanks for your reply.
Is there any option to pay online or to approach the customs office with a DD?
Is there any option to pay online or to approach the customs office with a DD?
30 April 2025
Yes, but only after getting the order from customs officer.
30 April 2025
Thanks, sir. We received the product through customs and paid the duty. Is it enough?
30 April 2025
If the duty (at prevailing rate) was paid while importing it back, question of duty drawback doesn't arise.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- LTCG - Loss on Equity
- SAC for Transportation services by GTA 996511 or 996791?
- ISD Registration for different business verticals
- Transporter cash payment limit
- Registration u/s 12AB
- Order under section 271D of the Income Tax Act, 1961
- Surrender GST
- CRETIFIED TRUE COPY OF RESOLUTION
- 24Q - TDS Return
- HSN CODE FOR FRESH MANGOES ( no processing)
- GSTR-1 Reco. with E way Bill
- Claim of Deduction under Section 37 of the Income-tax Act, 1961 – ipo exp.
- Ai Certification
- InterCompany Loan transactions between associate companies
- Total Income under Capital Gain to be considered in Total Income even though not taxable.
- GST Turnover- GST Portal
- GST- Invoice Numbering
- ITC reclaimed which was reversed under Table 4(B)(1) in earlier tax period
- Is credit note required to be issued for wrong GST number if its amended through amended B2B invoice
- Filing NIL Form 10BD
Trending Online Classes
CAclubindia
