dear all,
i want to know about duty drawback...n export incentives...
are both same or different things in export?
why is it called duty drawback refund when no duty is applied on exports articles?
is duty drawback applicable from first export consignment or 2nd consignment onwards?
does duty drawback refund & incentives come in the form of money or security bond papers? if in the form of papers how is it used?
how long time does custom need to credit duty drawback & incentive amount into exporters bank account?
pls guide...
Clarification on Duty Drawback vs. Export Incentives: Cash Refunds vs. MEIS Scripts; Consult Foreign Trade Policy for Details. An individual inquired about duty drawback and export incentives, questioning their differences, the terminology, applicability, form of receipt, and processing time. A respondent clarified that duty drawback is a cash incentive provided by the government, refunding taxes paid since exports are tax-exempt. Export incentives, such as MEIS schemes, are issued as scripts for paying government dues. The respondent advised consulting the latest foreign trade policy for detailed information. (AI Summary)
TaxTMI 
TaxTMI 
TaxTMI 
