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.

AI Summary

Clarification Needed on Duty Drawback Scheme for Yarn Exports to Iran Under Customs Act Sections 74 or 75. A user inquired about the eligibility for the Duty Drawback Scheme when exporting yarn to Iran. The response highlighted the need to clarify under which section of the Customs Act, 1962, the export is intended, either Section 74 or Section 75. It also advised checking if the yarn is on the negative list due to UN and US sanctions on Iran. If the yarn is freely exportable, the All Industry Rate of Duty Drawback could be applicable, as notified in Notification No. 68/2011-Cus (N.T), effective from October 1, 2011.