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TMI BlogDuty draw back under customX X X X Extracts X X X X X X X X Extracts X X X X ..... We have filed duty draw back claim 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% ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... duty.Please advise that we can claim 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 = D ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ear Krishan, According to Section 76 (2) of 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 remov ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed more than of 18 months, from the date of importation, 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 a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ny Drawback under Section 74 of the Customs Act, 1962 . Further, you would have to apply for permission from Board for getting the goods exported which are more than 2 years old otherwise you canno ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t export of said goods. Regards, YAGAY and SUN (Management and Indirect Tax Consultants) - Duty draw back under custom - Query Started By: - Krishan Gopal Dated ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... :- 11-9-2014 Customs - Import - Export - Customs - SEZ - Got 1 Reply - Customs - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ndia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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