Drawback recovery exception: non recovery permitted where export proceeds are uninsuredly compensated, regulator waives realisation, and foreign mission certifies non recovery. The amendment creates a non recovery exception in rule 16A: drawback paid shall not be recovered where sale proceeds are not realised within the permitted period but the non realisation is compensated by export credit insurance, the financial regulator writes off the realisation requirement on merits, and the exporter produces a certificate from the relevant foreign mission confirming non recovery.
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.
Drawback recovery exception: non recovery permitted where export proceeds are uninsuredly compensated, regulator waives realisation, and foreign mission certifies non recovery.
The amendment creates a non recovery exception in rule 16A: drawback paid shall not be recovered where sale proceeds are not realised within the permitted period but the non realisation is compensated by export credit insurance, the financial regulator writes off the realisation requirement on merits, and the exporter produces a certificate from the relevant foreign mission confirming non recovery.
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