Drawback - Duties Drawback (Amendment) Rules, 1995 - 72/95 - Customs - Non Tariff

Drawback - Duties Drawback (Amendment) Rules, 1995 Notification No. 72/95-Cus. (N.T) Dated 6-12-1995 In exercise of the powers conferred by section 75 of the Customs Act, 1962 (52 of 1962) and section 37 of the Central Excises Salt Act, 1944 (1 of 1944), the Central Government hereby makes the following further amendment in the Customs and Central Excise Duties Drawback Rules, 1995 notified by the Government of India in the Ministry of Finance (Department of Revenue) Notification No. 37/95-Customs and Central Excises (N.T.) dated the 26th May, 1995, namely :- 1. (1) These rules may be called the Customs and Central Excise Duties Drawback (Amendment) Rules, 1995. (2) They shall come into force on the date of their publication in the official Gazette. 2. After rule 16 of the Customs and Central Excise Duties Drawback Rules, 1995, the following shall be inserted, namely :- "16A Recovery of amount of Drawback where export proceeds not realised. (1) Where an amount of drawback has been paid to an exporter or a person authorised by him (hereinafter referred to as the claimant) but the sale proceeds in respect of such export goods have not been realised by or on behalf of the exporter in India within the period allowed under the Foreign Exchange Regulation Act, 1973, (46 of 1973) including any extension of such period, such drawback shall be recovered in the manner specified below. (2) On receipt of relevant information from the Reserve Bank of India, the Assistant Commissioner of Customs shall cause notice to be issued to the exporter for production of evidence of realisation of export proceeds within a period of thirty days from the date of receipt of such notice and where the exporter does not produce such evidence within the said period of thirty days, the Assistant Commissioner of Customs shall pass an order to recover the amount of drawback paid to the claimant and the exporter shall repay the amount so demanded within sixty days of the receipt of the said order; Provided that where a part of the sale proceeds has been realised, the amount of drawback to be recovered shall be the amount equal to that portion of the amount of drawback paid which bears the same proportion as the portion of the sale proceeds not realised bears to the total amount of sale proceeds; (3) Where the exporter fails to repay the amount under sub-rule (2) within said period of sixty days referred to in sub-rule (2), it shall be recovered in the manner laid down in rule 16. (4) Where the sale proceeds are realised by the exporter after the amount of drawback has been recovered from him under sub-rule (2) or sub-rule (3) and the exporter produces evidence about such realisation within one year from the date of such recovery of the amount of drawback, the amount of drawback so recovered shall be repaid by the Assistant Commissioner of Customs to the claimant.