Amendments effective from 01.07.2017 to the All Industry Rates of Duty Drawback and other Drawback related change

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..... from 01.07.2017 to the All Industry Rates of Duty Drawback and other Drawback related change- Reg. Attention of the Trade is invited to Board's Circular No. 22/2017- Customs issued vide F. No. 609/46/2017-DBK dated 30.06.2017. 2. Your attention is invited to Notification Numbers 58/2017-Cus (N.T.) 59/2017- Cus (N.T.), both dated 29.6.2017, which are effective from 1.7.2017. These noti .....

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..... rawback, subject to certain additional conditions. During the transition period, exporters can also claim Brand rate of duty/tax incidence as they have been doing earlier. The conditions imposed for claiming these composite rates aim to ensure that the exporters do not claim composite AIRS of duty drawback and simultaneously avail input tax credit of Central Goods and Services Tax (CGST) or Integr .....

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..... ule of AIRS of duty drawback and avail input tax credit of CGST or IGST or refund of IGST paid on exports. (b) Changes in AIRs: Based on prevailing prices of inputs and export goods, budgetary changes, representations received and keeping in mind need for removing anomalies, certain changes have been made in AIRs. These interalia include- i. Para (17) of Notes and Conditions of Notifi .....

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..... d under tariff item 611501 instead of 610304 and 610404; and vii. Customs rates have been reduced for nickel and articles thereof covered under chapter 75. 4. further, vide Notification no. 58/2017-Cus dated 29.6.2017, the work related to: (a) Fixation of Brand rate of drawback has been transferred from Central Excise formations to Customs formations having jurisdiction over place of expo .....

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..... shall continue to discharge Customs functions as required under the Drawback Rules 1995. 5.Difficulties faced, if any, may be brought to the notice of the undersigned. (P. V. R. Reddy), Principal Commissioner, Custom House, Kandla - Circular - Trade Notice - Public Notice - Instructions - Office orders Tax Management India - taxmanagementindia - taxmanagement - taxmanagemen .....

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