Subject: Extending scheme of Duty Drawback on supply of steel by steel manufacturers through their Service Centers/ Distributors/ Dealers/ Stock yards ­regarding. Circular no. According to U.S. Customs and Border Protection, Drawback is the refund of certain duties, internal revenue taxes, and certain fees collected upon importing goods.Such refunds are only allowed upon the exportation or destruction of goods under U.S. Customs and Border Protection supervision. 28 January 2020, G.S.R. Instruction No 21 2020 Customs F No 609 41 2018 DBK Government of India Ministry of Finance Department of Revenue Central Board of Indirect Taxes Customs Drawba It is a pleasure to send the following Article on Deemed Duty Drawback under GST law. Chapter 73. This benefit leads to cost competitiveness of exported products in international markets and better employment opportunities in export oriented manufacturing industries. (i) all art-ware or handicraft items shall be classified under the heading of art-ware or handicraft (of constituent material) as mentioned in the relevant Chapters; (ii) any identifiable ready to use machined part or component predominantly made of iron, steel or aluminium, made through casting or forging process, and not specifically mentioned at six digit level or more in Chapter 84 or 85 or 87, except those classifiable under heading 8432 or 8433 or 8436, may be classified under the relevant tariff item (depending upon material composition and making process) under heading 8487 or 8548 or 8708, as the case may be, irrespective of classification of such part or component at four digit level in Chapter 84 or 85 or 87 of the said Schedule; (iii) the sports gloves mentioned below heading 4203 or 6116 or 6216 shall be classified in that heading and all other sports gloves shall be classified under heading 9506. articles of apparel and clothing accessories) made under Special Advance Authorization Scheme (para 4.04A of Foreign Trade Policy 2015-20) in terms of Notification No. To continue with the process of reforms post GST and to benefit the exporters the Government of India has announced new Duty … Rates of Duty Drawback From 4-2-2020 onwards: See:-Related Rules - Related Notification - Related Circular : Ch. Duty Drawback Scheme provisions are made to grant rebate of duty or Tax chargeable on any imported/excisable materials and input services used in the manufacture of export goods. The duty drawback claim scrutiny, sanction and payment in 23 Custom Houses is now done through the Electronic Data Interchange (EDI) System. (contd… please refer above attachment for revised dbk schedule 2020), Clarification on Applicability of Duty Drawback Rates while fixing Brand Rate under GST: CBIC Circular No. 07/2020 Customs (N.T.) About the book. Extending Scheme of Duty Drawback on supply of Steel by Steel Manufacturers admin 2020-10-03T11:48:59+00:00 October 3rd, 2020 | Steel manufacturers can avail duty drawback benefits on steel supplied through their service centres, distributors, dealers and stock yards to Advance Licence holders, as per DGFT Notif No 35 Dt. should be declared as 610901B; (ii) The notification also specifies in the Table annexed thereto, lower AIRs on export of items covered under Chapters 61 and 62 of the Schedule (viz. Exports slip 0.8% in December 2020; trade deficit widens to USD 15.71 billion - The Economic Times-2nd Jan 2021 Govt extends benefits of tax refund scheme to all export goods - Outlook -31st Dec 2021 ; (iii) AIRs of Duty Drawback have been increased for certain items pertaining to marine products and seafood (Chapter 3, 15, 16, 23), chemicals (Chapter 29), finished and lining leather, leather articles and footwear (Chapter 41, 42 and 64), cotton and MMF textiles (Chapter 50 to 60), carpets (Chapter 57), made-ups (Chapter 63) and glass and glass ware (Chapter 70). The revised All Industry Rates of duty drawback, which have been notified, will come into effect from September 21, a Finance Ministry statement said. 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