Duty drawback on FOB allowed without deducting foreign bank charges, but deductions beyond allowed limit must be adjusted. Duty drawback may be granted on the FOB value without deducting foreign bank charges; foreign bank service charges and agency commission are allowable only within an overall limit of 1.25% of the FOB value, and any amounts exceeding that limit must be deducted from the FOB value when granting duty drawback. Prior show cause notices and requests to regularise short realisation due to foreign bank charges, supported by documentary evidence, are to be considered on merit.
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 allowed without deducting foreign bank charges, but deductions beyond allowed limit must be adjusted.
Duty drawback may be granted on the FOB value without deducting foreign bank charges; foreign bank service charges and agency commission are allowable only within an overall limit of 1.25% of the FOB value, and any amounts exceeding that limit must be deducted from the FOB value when granting duty drawback. Prior show cause notices and requests to regularise short realisation due to foreign bank charges, supported by documentary evidence, are to be considered on merit.
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