DRAWBACK AND SCHEME EXPORT

[Guest]

what is drawback export and scheme export?????

[PAWAN KUMAR]

As per my view, the drawback export is the export of your product on which you claim any duty drawback which government allow on some products at the rate fixed by them. However in scheme export, you have to mention the scheme name while filing shipping bills for export in customs.

[YAGAY andSUN]

Dear Ranjit,

Duty Drawback is of three kinds, namely:-

1. Export under Section 74 of the Customs Act, 1962 (Export of inputs etc. as such)
2. Export under Section 75 of the Customs Act, 1962 (Export of finished goods in which imported inputs/components/raw material is used on which import customs duty was paid).
3. Export under All Industry Rate (In this drawback of duty rates is fixed by the Government).

Scheme Exports are as under:-

1. Export under Advance License scheme
2. Export under EPCG Scheme
3. Focus Market Scheme
4. Served from India Scheme (Service export)
5. DFIA scheme
6. Focus Product Scheme.

To avail the benefit of above schemes, there is a requirement to mention about these scheme on the Shipping Bills prior to exporting out of India.

Regards

Team YAGAY and SUN

(Management and Indirect Tax Consultants)

[Mahir S]

Yes, and one more export scheme namely Market Linked Focus Product Scheme (MLFPS).

AI Summary

Understanding Duty Drawbacks and Export Schemes Under Customs Act, 1962: Key Insights on Filing and Benefits A discussion on a forum about duty drawback and export schemes includes several responses. One participant explains that drawback export involves claiming government-allowed duty drawbacks on products, while scheme export requires specifying the scheme on shipping bills during customs filing. Another participant elaborates on types of duty drawbacks under the Customs Act, 1962, and various export schemes like Advance License, EPCG, and others. It is noted that mentioning the scheme on shipping bills is necessary to benefit from these schemes. Additionally, the Market Linked Focus Product Scheme (MLFPS) is mentioned as another export scheme.