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Diff between remission and rebate

EXICSE (Legacy) 4506 views 3 replies

What is the difference between Remission and Rebate?

Replies (3)
Dear Somaas The difference is that in remittance it is after incurring expense where as rebate isbebefore incurring exp. Suppose, I need to pay Rs.10000/- as some obligation, then if I get any relief for Rs.1000/- then in remittance I shall pay Rs.10000/- & then I shall get Rs.1000/- back. Whereas in case of rebate, my sum payable would be reduced to Rs.9000/- agt rebate of Rs.1000/-. Thus this is the difference!
This is remission and not remittance
Remission of duty means duty foregone by excise dept on account of destruction of goods due to fire etc whereas rebate is refund of duty paid on export


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