Drawback under INR Currency

[kuldeep singh]

Sir,

Can exporter get Duty drawback from customs for their exports shipment if the shipping bill currency is INR , for any destination , if yes , is there is any notification/circular regarding this ?

[Nash Industries I Pvt Ltd]

Not available.

Regards

S.Ramaswamy

[CSSANJAY MALHOTRA]

Shipping bill can be raised in any currency, does not matter. Payment is to be realised either in Foreign Currency or in Indian Currency through Vostro account other than for member countries of ACU, Nepal & Bhutan. (Refer Para 2.52 of FTP 2015-20).

Exports Benefit are available either it is drawback or MEIS.

[KASTURI SETHI]

I support the views of Sh.CS Sanjay Malhotra, Sir.

[CSSANJAY MALHOTRA]

Thanks Kasturi ji. Am aware that your goodself have hands on experience in this. Still I prefer to revert on this.

[kuldeep singh]

Respected All,

is there any Notifcation/circular in this regard stating that Under INR currency exporter can claim dbk or not ?

AI Summary

Duty drawback eligibility depends on approved payment realisation methods even if the shipping bill is in INR. Entitlement to duty drawback is not determined solely by the currency stated on the shipping bill; the critical requirement is that export proceeds be realised in an approved manner-generally foreign currency or Indian currency routed through a Vostro account-and compliance with export policy conditions governs eligibility for drawback and other export benefits.