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Duty drawback on import of machine


saurabh toshniwal (ca final)     15 February 2020

saurabh toshniwal
ca final 
 201 likes  2319 points

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we are importing a yarn to manufacture a product. the manufactured product will be exported, so what will be duty drawback under customs.

 

kindly guide as i am new in this matter.

avater

CS Malay M Pota (Company Secreatary)     17 February 2020

CS Malay M Pota
Company Secreatary 
 86 likes  2715 points

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Yes, you can have U/S 75 of the Customs Act.1962

VIJI (HEAD - PRODUCT DEVELOPMENT)     20 February 2020

VIJI
HEAD - PRODUCT DEVELOPMENT 
 3 likes  88 points

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Understand you are importing new machinery for the manufacture of export products.  For import of machinery, as per my understanding, no drawback scheme is available.

Check on the possibility of using Export Promotion Capital Goods (EPCG) Scheme.   Use below link of DGFT and refer point no.5 for details of EPCG scheme.

http://dgft.gov.in/foreigns-trade-policy-2015-20-


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