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Edukemy Gazette

Duty drawback scheme

Duty drawback scheme

Why in news? According to GST authorities, Exporters are misusing the government’s duty drawback scheme.

About:

  • Under this scheme, exporters are provided with a refund of customs duty paid on unused imported goods, or goods that will be treated, processed or incorporated into other goods for export.
  • Claims must be lodged within 4 years from the date the goods were exported.
  • Duty drawback can be only claimed for compensating unrebated taxes and duties, not for GST.

 

https://www.business-standard.com/article/economy-policy/apparel-drugs-and-leather-export-under-scanner-for-tax-scheme-misuse-123011500726_1.html

 

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