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of <h1>Exporters Can Reclaim Duties on Imported Goods Under Customs Act Sections 74 & 75: Procedures & Compliance Explained</h1> The Customs Manual outlines the Duty Drawback scheme under the Customs Act, 1962, allowing exporters to reclaim a portion of duties paid on imported goods. Section 74 covers re-exported goods, while Section 75 addresses manufactured export goods using imported materials. The All Industry Rates (AIR) and Brand Rates determine the drawback amount, with specific procedures and timelines for claims. Limitations exist on admissibility, and monitoring mechanisms ensure compliance and prevent misuse. Exporters must adhere to prescribed documentation and timelines, while Customs authorities are tasked with auditing and verifying claims to ensure proper realization of export proceeds.
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