Recovery of drawback where export proceeds not realised: customs can require proof and recover drawback if none produced. Insertion of rule 16A provides that where drawback was paid but export sale proceeds were not realised within the foreign exchange period, customs-on receiving information from the banking regulator-will issue a thirty-day notice for proof of realisation; absent such proof customs will order recovery of drawback to be repaid within sixty days, with proportional recovery if part proceeds were realised, enforcement under rule 16 if repayment fails, and refund of recovered amounts if proof of later realisation is produced within one year.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Recovery of drawback where export proceeds not realised: customs can require proof and recover drawback if none produced.
Insertion of rule 16A provides that where drawback was paid but export sale proceeds were not realised within the foreign exchange period, customs-on receiving information from the banking regulator-will issue a thirty-day notice for proof of realisation; absent such proof customs will order recovery of drawback to be repaid within sixty days, with proportional recovery if part proceeds were realised, enforcement under rule 16 if repayment fails, and refund of recovered amounts if proof of later realisation is produced within one year.
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