Duty drawback credit scheme, Marketing Research

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Duty Drawback Credit Scheme: As an export promotional measure, the Government of India have authorised the Reserve Bank of India to instruct the commercial banks (Authorised Dealers in Foreign Exchange) to grant interest-free credit to the exporters. The credit is given against their Duty Drawback entitlements pending scrutiny, sanction and payment by the Custom House. Such interest-free credit is being made available to exporters in India. for a period of 90 days. However, the scheme is applicable only for export of such products for which Drawback rates have already been determined either on all-industry rate basis or on brand-rate basis.

Drawback on export by post : Where goods are to be exported by post under a claim of drawback, the outer surface of the packing must be marked as 'DKAWBACKEXPORT' In such cases, the exporters will submit to the Postal Authorities a Drawback Claim Form instead of a shipping bill giving details regarding drawback schedule number, product description, drawback rate and amount.

 


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