Upper Limit on Drawback: cap on drawback and tightened procedures for rebate claims and export realisation verification. The amendment inserts rule 8A capping drawback so it does not exceed one third of the export product's market price; prohibits separate rebate claims under the Central Excise Rules, 2002 for duties on containers, packing and materials used in manufacture when drawback is claimed; and revises rule 16A(2) to require the Assistant Commissioner of Customs or Deputy Commissioner of Customs to act if the exporter fails to produce evidence of realisation within the FEMA-prescribed period or any Reserve Bank extension, including a clarified reference to the thirty day administrative period.
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.
Upper Limit on Drawback: cap on drawback and tightened procedures for rebate claims and export realisation verification.
The amendment inserts rule 8A capping drawback so it does not exceed one third of the export product's market price; prohibits separate rebate claims under the Central Excise Rules, 2002 for duties on containers, packing and materials used in manufacture when drawback is claimed; and revises rule 16A(2) to require the Assistant Commissioner of Customs or Deputy Commissioner of Customs to act if the exporter fails to produce evidence of realisation within the FEMA-prescribed period or any Reserve Bank extension, including a clarified reference to the thirty day administrative period.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
