Clarification regarding Duty Drawback allowed in cases of short realization of export proceeds due to bank charges deducted by foreign banks, issued by the C.B.I.T.& C., New Delhi, vide Circular No. 33/2019 - Customs dated 19th September, 2019 https://www.taxtmi.com/circulars?id=62628 Duty drawback may be permitted on the FOB value without deducting foreign bank charges if such charges are documented; foreign bank charges and agency commission are to be treated within an overall 12.5% limit of FOB value, and if their combined amount exceeds that limit it must be deducted from FOB for granting drawback. Field formations should regularise short realisations based on documentary evidence and treat related show cause notices accordingly. en-us Thu, 26 Sep 2019 00:00:00 +0530 Mon, 30 Sep 2019 10:04:00 +0530 TaxTMI RSS Generator Clarification regarding Duty Drawback allowed in cases of short realization of export proceeds due to bank charges deducted by foreign banks, issued by the C.B.I.T.& C., New Delhi, vide Circular No. 33/2019 - Customs dated 19th September, 2019 https://www.taxtmi.com/circulars?id=62628 Duty drawback may be permitted on the FOB value without deducting foreign bank charges if such charges are documented; foreign bank charges and agency commission are to be treated within an overall 12.5% limit of FOB value, and if their combined amount exceeds that limit it must be deducted from FOB for granting drawback. Field formations should regularise short realisations based on documentary evidence and treat related show cause notices accordingly. Circulars Customs Thu, 26 Sep 2019 00:00:00 +0530 https://www.taxtmi.com/circulars?id=62628