Drawback cap limits payable drawback to a proportion of the export product's market price, restricting refund entitlement. The provision imposes a market-value ceiling on drawback entitlement by providing that the drawback amount or rate determined under the applicable ... Summary
Drawback cap limits payable drawback to a proportion of the export product's market price, restricting refund entitlement.
The provision imposes a market-value ceiling on drawback entitlement by providing that the drawback amount or rate determined under the applicable calculation rule shall not exceed one third of the market price of the export product, thereby restricting the benefit available to exporters and framing valuation and refund calculations under the Customs, Central Excise Duties and Service Tax Drawback Rules, 1995.
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