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Duty Drawback Formalities

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20 views2 pages

Duty Drawback Formalities

Uploaded by

bhanusree1312
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Duty Drawback Formalities: A Simplified Guide

Duty Drawback is a refund of customs duties, excise duties, and other taxes paid on imported
inputs used in the manufacture of export products. This scheme is designed to boost exports and
make Indian products more competitive in the global market.

Key Steps in the Duty Drawback Process:

1. Import of Inputs:
o Import the necessary inputs for manufacturing the export product.

o Ensure proper documentation and payment of customs duties.

2. Manufacture of Export Product:


o Use the imported inputs to manufacture the export product.

o Maintain accurate records of input utilization.

3. Export of Product:
o Export the manufactured product to a foreign country.

o Ensure proper documentation and customs clearance procedures.

4. Filing the Drawback Claim:


o Prepare and submit the necessary documents, including:

 Shipping Bill or Bill of Export

 Import documents (Bill of Entry, Invoice, etc.)

 Proof of payment of duties

 Records of input utilization

 Other relevant documents as specified by Customs authorities

5. Processing of the Claim:


o Customs authorities will verify the documents and calculate the amount of
drawback admissible.

o The claim may be processed manually or electronically.

o Any discrepancies or clarifications may be sought by the customs authorities.

6. Payment of Drawback:
o Once the claim is approved, the drawback amount will be credited to the exporter's
account.

o The payment can be made through various methods, such as electronic transfer or
cheque.

Important Considerations:

 Time Limits: Claims must be filed within a specified timeframe.


 Documentation: Accurate and complete documentation is crucial.
 Input-Output Norms: Adherence to input-output norms is essential.
 Customs Procedures: Understanding and complying with customs procedures is vital.
 Consult with Customs Experts: Seek guidance from customs brokers or consultants to
ensure smooth processing.

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