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of <h1>Duty Drawback Allowed on Full FOB Value of Exports; Foreign Bank Charges Exempt from Deductions per RBI Guidelines.</h1> The notice clarifies that duty drawback should be permitted on the FOB value of exports without deducting foreign bank charges, as these are considered service charges. This decision aligns with RBI's notification and export promotion schemes stating that foreign exchange remitted after such deductions is treated as export realization. The permissible limit for deductions, including agency commission and bank charges, is set at 12.5% of the FOB value. Exporters must provide documentary evidence to support claims of short realization due to bank charges. Field formations should address existing show cause notices in line with this clarification.
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