Drawback Rules reform limits drawback to Customs and excise duty incidence, revises AIRS and discontinues composite rates. Changes to the Drawback Rules and AIRS limit drawback to the incidence of Customs duty on imported inputs and remnant Central Excise duty on certain petroleum products, exclude integrated tax and compensation cess, discontinue composite rates, and require tariff-item suffixes for claiming general and alternative AIRs. Provisional drawback payments may be authorized equivalent to applicable AIRs subject to claim conditions; previously fixed brand rates will not apply for exports from the rules' commencement and exporters must reapply for brand-rate fixation where necessary.
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Drawback Rules reform limits drawback to Customs and excise duty incidence, revises AIRS and discontinues composite rates.
Changes to the Drawback Rules and AIRS limit drawback to the incidence of Customs duty on imported inputs and remnant Central Excise duty on certain petroleum products, exclude integrated tax and compensation cess, discontinue composite rates, and require tariff-item suffixes for claiming general and alternative AIRs. Provisional drawback payments may be authorized equivalent to applicable AIRs subject to claim conditions; previously fixed brand rates will not apply for exports from the rules' commencement and exporters must reapply for brand-rate fixation where necessary.
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