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Clarification regarding Duty Drawback allowed in cases of short realisation of export proceeds due to bank charges deducted by Foreign Banks - Customs - PUBLIC NOTICE NO.- 90/2019Extract GOVERNMENT OF INDIA OFFICE OF THE PRINCIPAL COMMISSIONER OF CUSTOMS (AIRPORT ACC) NSCBI AIRPORT, DUM DUM, KOLKATA- 700 052 F.No.- S41(Misc)-236/2019 CCX DBK Dated: 19.11.2019 PUBLIC NOTICE NO.- 90/2019 Subject: Clarification regarding Duty Drawback allowed in cases of short realisation of export proceeds due to bank charges deducted by Foreign Banks Attention of all Exporters, Custom House Brokers, all Carriers/Shipping Lines/ Steamer Agents and members of Trade is invited towards CBIC Circular No. 33/2019-Customs dated 19.09.2019 regarding short realised export sale proceeds due to bank charges being deducted by foreign banks and their implication on the Duty Drawback allowed. 2. In pursuance of the CBIC Circular No. 33/2019-Customs dated 19.09.2019 and also complying with the Notification No. FEMA 23(R)2015-RB of the Foreign Exchange Management (Export of Goods and Services) Regulations, 2015, it has been decided by the Board that Duty Drawback may be permitted on FOB value without deducting foreign bank charges. Deduction on account 01service charges by: the [oreign bank is allowed within this overall limit 0112.5% of the FOB value, which includes agency commission paid to agents. Agency commission and foreign bank charges, separately or jointly, exceeding this limit is to be deducted from the FOB value for granting of Duty Drawback. 3. Show Cause Notices already issued and requests for regularising such short realisation on account of foreign bank charges based on documentary evidence, such as export invoice, bank's confirmation regarding foreign bank charges, etc, to justify such deductions are to be considered on merit basis. (Deep Shekhar) Pr. Commissioner of Customs, Airport ACC Commissionerate, Kolkata
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