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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Duty Drawback Allowed on Full FOB Value Without Deducting Foreign Bank Charges, Aligns with RBI and FEMA Rules.</h1> The notice clarifies that duty drawback should be allowed on the full FOB value of exports without deducting foreign bank charges, as these are considered service charges. This aligns with RBI's notification and the Foreign Exchange Management Regulations. The Board allows agency commissions up to 12.5% of the FOB value without deductions, and foreign bank charges fall within this limit. Exporters can request regularization of short realisations due to bank charges with appropriate documentation. Field formations should address existing show cause notices in line with this clarification, and any implementation difficulties should be reported.
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