draw back on iran

[kamal chordia]

We shall planning  to exporting our Yarn to IRAN, are we entitled for Duty Draw back Scheme. related notification circular etc any, provide.

[YAGAY andSUN]

It is not clear under which section of Customs Act, 1962. you intent to export your product.  Whether it is under Section 74 or Section 75 of the Customs Act, 1962.  Further, also check whether your product falls under Negative list of the goods intended for export to Iran as UN and USA has put saction on Iran.  Please check this aspect. 

Further, it your product is freely exportable to Iran then you may also opt for All Industry Rate. All Industry Rates (AIR) of Duty Drawback 2011-12 have been notified vide Notification No. 68/2011- Cus (N.T), dated 22.09.2011. The rates of duty drawback are effective from 01.10.2011.

AI Summary

Duty drawback eligibility for exports to Iran hinges on applicable Customs Act provision and sanctions screening. Duty Drawback eligibility for exporting yarn to Iran depends on whether the export is made under Section 74 or Section 75 of the Customs Act, 1962, and whether the product appears on a negative list due to UN or US sanctions; if freely exportable, the exporter may opt for the All Industry Rate scheme as notified for the relevant period.