Clarification regarding duty drawback allowed in cases of short realisation Of export proceeds due to bank charges deducted by foreign banks

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..... n regarding duty drawback allowed in cases of short realisation Of export proceeds due to bank charges deducted by foreign banks - reg. Attention of all the Importers, Trade and Stake holders is drawn to the Board's Circular 33/2019 dated 10.09.2019. Representations have been received from Export Promotion Councils, Trade Bodies, and individual exporters regarding show cause notices issued b .....

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..... arious export promotion schemes, para 2.52 of FTP 2015-20 also states that free foreign exchange remitted by buyer after deduction of bank service charges are taken as export realisation under export promotion schemes of FTP, Earlier also. in respect of agency commission paid to agents abroad for securing export contracts, Board vide Circular No. 34/2003- Customs dated 21.07.20D3 has allowed such .....

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..... 12.5% Of FOB value allowed by the Board. Agency commission and foreign bank charges, separately or jointly, exceeding this limit should be deducted from the FOB value for granting duty drawback 4. The exporter's requests for regularising such short realisation on account of foreign bank charges, based on documentary evidence such as export invoice, bank's confirmation regarding foreign b .....

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