Dear experts
we exported material under duty drawback, our drawback and STR also sanctioned, but due to some technical problem in product we short received payment from overseas customer.
please advice what is procedure to payback drawback and STR amount to custom
Thanking you in advance
Zulfikar B. Vohra
Repay Duty Drawback with Interest for Short Payments: Follow Rule 16 of Duty Drawback Rules 1995. An individual inquired about the procedure to repay duty drawback and STR amounts to customs due to receiving a short payment from an overseas customer. An expert advised depositing the excess realized amounts into the Customs Account and notifying the authorities with the details. The expert further explained the process under Rule 16 of the Duty Drawback Rules 1995, mentioning an interest rate of 15%. Other contributors noted that writing off a percentage of the short payment does not exempt the obligation to repay the duty drawback with interest. The discussion involved multiple participants providing guidance and clarification. (AI Summary)
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