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TMI BlogNew Drawback Rates notified for several exported productsX X X X Extracts X X X X X X X X Extracts X X X X ..... New Drawback Rates notified for several exported products X X X X Extracts X X X X X X X X Extracts X X X X ..... , 2014 ("the Notification"), to provide new drawback rates for several Products exported out of India. The Notification shall come into force on January 25, 2014. In this context, please find link below of the Notification: Notification No. 05/2014 Custom (N.T.) Dated 21/01/2014 Duty Drawback is governed by Section 74 to 76 of the Customs Act, 1962 and Notifications issued there under read wit ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... h the Customs, Central Excise Duties and Service Tax Drawback Rules, 1995 ("the DBK Rules"). Duty Drawback rates are of following types:- * All Industry Rates ("AIR") are fixed by the Directorate of Drawback, Dept. of Revenue, Ministry of Finance, and Govt. of India for standard products under Rule 3 of the DBK Rules. These rates are periodically revised. * Brand Rate is fixed under Rule 6 of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the DBK Rules for special types of products on the application made by the manufacturer within stipulated time. * Special Brand Rates - Where AIR is less than four-fifth of the duties or taxes paid on the materials or components or input services used in the production or manufacture of the said goods. Special Brand Rate can be are fixed under Rule 7 of the DBK Rules on an application made by th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e exporter. Hope the information will assist you in your Professional endeavours. In case of any query/ information, please do not hesitate to write back to us. Bimal Jain FCA, FCS, LLB, B.Com (Hons) F-30/31/32, Pankaj Grand Plaza 1st Floor, MayurVihar, Phase-I, Delhi - 110091 (India) Mobile: +91 9810604563 E-mail: bimaljain at the rate of hotmail.com Disclaimer: The contents of this docu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ment are solely for informational purpose. It does not constitute professional advice or recommendation of firm. Neither the authors nor firm and its affiliates accepts any liabilities for any loss or damage of any kind arising out of any information in this document nor for any actions taken in reliance thereon. Readers are advised to consult the professional for understanding applicability of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... this newsletter in the respective scenarios. While due care has been taken in preparing this document, the existence of mistakes and omissions herein is not ruled out. No part of this document should be distributed or copied (except for personal, non-commercial use) without our written permission. X X X X Extracts X X X X X X X X Extracts X X X X
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