Duty draw back under custom

[Krishan Gopal]

We have filed duty draw back claim u/s 74 of custom act for a machine return back after approx 2 years used, as per rules, we can claim duty draw back only 70% therefore we will suffer loss of 30% duty.Please advise that we can claim depreciation on cenvat 2.5% each quarter under rule 5 sub rule (5A) (b) of cenvat credit rule 2004 RegardsK.GOpal

AI Summary

Duty Drawback Claim Denied for Machine Re-exported After Two Years Under Section 76(2) of Customs Act. A query was raised regarding the duty drawback claim under Section 74 of the Customs Act for a machine returned after two years of use. The claimant expected a 70% drawback but expressed concern about a 30% loss. The response highlighted that under Section 76(2) of the Customs Act, 1962, goods used before re-export are eligible for a reduced drawback, and no drawback is available if goods are exported after 18 months from importation. It was advised to seek permission from the Board for exporting goods over two years old, as per Notification No. 23/2008-Cus.