Revised duty drawback rates impose new caps and procedural limits and bar brand-rate fixation when AIR is claimed. Notification effective 22.11.2014 revises All Industry Rates of duty drawback, recalibrating ad valorem and composite rates, adjusting residuary rates and caps, rationalizing tariff entries and metric bases, and creating new six digit distinctions. A transitory reduction applies to items from the former DEPB scheme. Project exports accompanied by ARE 1 are capped at the ad valorem rate on one and a half times the ARE 1 value with ARE 1 to be recorded pre Let Export Order. Claims under AIR bar Brand Rate fixation; exporters seeking brand rates must declare identifier '9801' in the shipping bill and follow Central Excise procedures. Commissioners must exercise due diligence to prevent misuse.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Revised duty drawback rates impose new caps and procedural limits and bar brand-rate fixation when AIR is claimed.
Notification effective 22.11.2014 revises All Industry Rates of duty drawback, recalibrating ad valorem and composite rates, adjusting residuary rates and caps, rationalizing tariff entries and metric bases, and creating new six digit distinctions. A transitory reduction applies to items from the former DEPB scheme. Project exports accompanied by ARE 1 are capped at the ad valorem rate on one and a half times the ARE 1 value with ARE 1 to be recorded pre Let Export Order. Claims under AIR bar Brand Rate fixation; exporters seeking brand rates must declare identifier "9801" in the shipping bill and follow Central Excise procedures. Commissioners must exercise due diligence to prevent misuse.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
