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2015 (6) TMI 1108 - CGOVT - CustomsDuty drawback - recovery of sanctioned drawback - recovery on the ground that applicant failed to produce the evidence for realization of export proceeds in respect of impugned exported goods for which they were allowed drawback within the period allowed - Held that: - it is a statutory requirement under Section 75(1) of Customs Act, 1962 & Rule 16A(1) of Customs, Central Excise Duties and Service Tax Drawback Rules, 1995, read with Section 8 of FEMA, 1999 read with Regulations 9 of Foreign Exchange Management (Export of Goods & Services) Regulations, 2000 & Para 2.41 of EXIM policy 2005-2009 that export proceeds need to be realized within the time limit provided thereunder viz six months in this case subject to any extension allowed by RBI - the applicant failed to produce Bank Realization Certificates even after 11 years from the date of exports - the drawback availed by the applicant is liable for recovery - revision rejected - decided against Applicant.
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