DUTY DRAWBACK

550 views 3 replies

38 Points Joined January 2010

I WANT TO KNOW ABOUT DUTY DRAWBACK SYSTEM AND HOW TO VERIFY DUTY DRAWBACK AMOUNT

Replies (3)

CS PURSUING

43853 Points Joined December 2009

Drawback is the refund of duties, taxes, and fees imposed on imported merchandise which is subsequently exported.

u can verified it from the ep copy of shipping bill foreign currency (FC) WITH the BRC COLUMN NO.14, AFTER RELEASED THE AMOUNT.

(WHICHEVER IS LESS)

Student

63 Points Joined October 2008

But sir according to act refund is granted on in case wher ther is excess payment..

ACCOUNTS EXCECUTIVE

575 Points Joined February 2010

Draw back refers to rebate of duty paid on imported or excisable goods. Tthere is nothing like refund of excess payment.

Such rebate is subjcet conditions laid down under "The Customs, Central Excise Duties and Service Tax Drawback (Amendment) Rules, 2006."

Regards

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