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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Clarification on Duty Drawback: Foreign Bank Charges Impact on Export Proceeds Limited to 12.5% of FOB Value.</h1> The notice addresses the clarification on duty drawback eligibility when export proceeds are reduced due to foreign bank charges. The Board's Circular No. 33/2019-Customs states that duty drawback can be calculated on the FOB value without deducting foreign bank charges, provided these charges, along with any agency commission, do not exceed 12.5% of the FOB value. If the combined deductions surpass this limit, they must be deducted from the FOB value for duty drawback purposes. Exporters are advised to submit requests for regularizing short realizations to the Assistant Commissioner (Drawback), and any implementation issues should be reported to the office.
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