drawback

and 15.4.2008-reg I am directed to invite your attention to the above-mentioned subject and to say that, a reference was received from the Ministry of Agriculture Food & Public Distribution to consider extension of export obligation period for those Advance License Holders who had imported raw sugar between 21.9.2004 and 15.4.2008 but had not yet fulfilled their export obligations. Full Article

The drawback rates prescribed in the said Schedule against tariff items 711301 and 711302 shall apply only to goods exported by airfreight, post parcel or authorised courier through the Custom Houses as specified in para 4A.12 of the Hand Book of Procedures (Vol. I), 2009-14 published vide Public Notice No.1/2009-14 dated 27 th August, 2009 of the Government of India in the Ministry of Commerce and Industry, after examination by the Customs Appraiser/Superintendent (Jewe.. Full Article

The FTP is primarily focused around export-import guidelines and various incentives available for export of goods and services outside India. In addition, it is also an important source of information for companies effecting deemed exports, i.e., supplies for specified projects / purposes in India (such as power projects, refineries, etc.) that are also eligible for various incentives available for physical exports. Full Article

Recently the Central Board of Excise and Customs issued a circular, Circular No. 4/2004 dt. 16-01-2004 [2004 (163) ELT T29], saying that conversion of Shipping Bills from free Shipping Bill to drawback Shipping Bill or from one export incentive scheme to other should not be encouraged. The said circular imposes conditions which have made it almost impossible to attain such conversion. In this context, the present paper seeks to examine the relevant legal provision for.. Full Article

Government of India, Ministry of Finance, Department of Revenue, Central Board of Excise & Customs, North Block, New Delhi Circular No. 23/2009-Customs, Dated : 1st September, 2009 Sir / Madam, I am directed to invite your attention to the Board’s Circular No.87/2002-Customs dated 17.12.2002 regarding the powers of adjudication of officers of Customs. Board has reviewed the monetary limits [...] Full Article

The government is likely to come up with export sops for the domestic textiles industry in the upcoming Budget, including a rise in duty drawback rates. The over $55-billion industry, one of the  three largest foreign exchange earners along side IT and gems and jewellery, is not keeping pace with the government’s projections for the current [...] Full Article

During 2007, the then Finance Minister P. Chidambaram launched an innovative scheme called as Refund banker Scheme. It was first introduced in New Delhi and Patna. Since then, the scheme has been extended to other cities in India. Here, we take a look at the Refund Banker Scheme, its pros and cons.  Refund Banker Scheme:-A [...] Full Article

There is no change in the peak rate of the custom duty in the current budget. Exemption from 4% additional duty of customs has been withdrawn :- The exemption from 4% additional duty of custom leviable under section 3(5) of the Custom Tariff Act has been withdrawn from Power generation projects, (Other than mega power projects) transmission, sub-transmission and distribution projects, and goods for high voltage transmission projects. Full Article