Duty drawback on FOB value allowed despite foreign bank charges; excess agency commission or bank fees must be adjusted. Duty drawback may be granted on FOB value without deducting foreign bank charges where such charges are documented and fall within the administratively permitted overall agency commission allowance; if the combined agency commission and foreign bank charges exceed that allowance, the excess must be deducted from FOB for drawback. Exporters can seek case by case regularisation with documentary evidence and field formations should reconsider issued recovery notices accordingly.
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.
Duty drawback on FOB value allowed despite foreign bank charges; excess agency commission or bank fees must be adjusted.
Duty drawback may be granted on FOB value without deducting foreign bank charges where such charges are documented and fall within the administratively permitted overall agency commission allowance; if the combined agency commission and foreign bank charges exceed that allowance, the excess must be deducted from FOB for drawback. Exporters can seek case by case regularisation with documentary evidence and field formations should reconsider issued recovery notices accordingly.
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 
