Clarification regarding duty drawback allowed in cases of short realization of export proceeds due to bank charges deducted by foreign banks

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....B. NO. 5400, C.R. BUILDING, QUEEN'S ROAD, BANGALORE - 560 001 C. NO. VIII/09/12/2019 City cus. Tech Dated: 09.10.2019 PUBLIC NOTICE NO. 17/2019 Subject: Clarification regarding duty drawback allowed in cases of short realization of export proceeds due to bank charges deducted by foreign banks Attention of all Exporters, Customs Brokers, Members of the Trade and other stake holde....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....5% of the FOB value. From the average rates of agency commission and foreign bank charges in respect of export shipments, it is seen that these deductions fall within the aforesaid overall limit of 12.5% of FOB value allowed by the Board. Agency commission and foreign bank charges, separately or jointly, exceeding this limit should be deducted from the FOB value for granting duty drawback. 3. A....