Dear Experts,
Kindly clarify my query : We have exports to South African countries. Exporting under LUT. We procure material locally and pay excise for the related material . Can we go for Draw back of Excise duty proportionately paid on the material which we have procured locally?, Please provide necessary details.And also,wish to know,is there any free trade agreement between South African & India, if so, please provide details.
Thanking you,
Srinivas
Duty Drawback Available on Excise for Exports to South Africa; No Free Trade Agreement with India Confirmed. An individual inquired about the possibility of claiming a duty drawback on excise duty paid for locally procured materials used in exports to South African countries under a Letter of Undertaking (LUT). They also asked about the existence of a free trade agreement between South Africa and India. A respondent advised that an All Industry Rate (AIR) Duty Drawback could be claimed and confirmed that there is no free trade agreement between South Africa and India. Another participant praised the response for its informative value. (AI Summary)
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