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of <h1>Excise Duty Rebates on Export Goods: Match Duty Paid at Market Rate, Avoid Re-quantification Based on Later Exchange Rates.</h1> The circular addresses the procedure for determining excise duty rebates on export goods when prices are quoted in foreign currency and converted into Indian rupees. It clarifies that the rebate should match the duty paid at the market rate when the duty is paid, without re-quantifying based on later exchange rates. The rebate sanctioning authority should focus on the admissibility of the rebate, not reassessing duty correctness. If excess duty is suspected, the jurisdictional Assistant/Deputy Commissioner should be informed post-rebate. The same principle applies to short payments corrected before rebate sanction. Incorrectly reduced rebates should be granted in genuine cases.
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