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Duty draw back under custom
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....uty draw back under custom<br> Query (Issue) Started By: - Krishan Gopal Dated:- 11-9-2014 Last Reply Date:- 11-9-2014 Customs - Exim - SEZ<br>Got 1 Reply<br>Customs<br>We have filed duty draw back cl....
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....aim u/s 74 of custom act for a machine return back after approx 2 years used, as per rules, we can claim duty draw back only 70% therefore we will suffer loss of 30% duty.Please advise that we can cla....
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....im depreciation on cenvat 2.5% each quarter under rule 5 sub rule (5A) (b) of cenvat credit rule 2004 RegardsK.GOpal Reply By Pradeep Khatri: The Reply: Dear Krishan, According to Section 76 (2) of....
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.... the Customs Act, 1962, if the imported goods are used before re-export, the drawback will be allowed at a reduced percentage. If the goods were removed more than of 18 months, from the date of import....
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....ation, then, NIL Drawback will be available. For details please refer Notification No. 23/2008-Cus dated 01-03-2008. In a result you won't get any Drawback under Section 74 of the Customs Act, 196....
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....2. Further, you would have to apply for permission from Board for getting the goods exported which are more than 2 years old otherwise you cannot export of said goods. Regards, YAGAY and SUN (Manag....
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....ement and Indirect Tax Consultants)<br> Discussion Forum - Knowledge Sharing ....