Re-export of imported goods Drawback of Customs duties Rules, 1995 

Duties, taxes which are incurred in manufacturing the goods in India and the goods instead of being sold in Indian market are exported. Therefore, Government gives you back a rebate known as drawback i.e. drawing back.
In today’s video, Mr. Viren C. Dayal, Instructor, JBS Academy Private Limited guides on ‘Re-export of imported goods (Drawback of Customs duties) Rules, 1995’. He explains the concept of drawback with regards to re-export of the goods which are imported into India, covered under Section 74. Drawback of Custom Duties Rules, 1995 were made to give effect to the concept of drawback under Section 74 of the Customs Act, 1962. Learn in detail about,
o Concept of Drawback
o Section 74 : Rules under Section 74 - When goods are re-exported, after they have been imported into India
o The scope of the Section and the Rules
o Criteria to be fulfilled for drawback
o Percentage of duty paid at time of importation returned as drawback and conditions to be fulfilled to obtain drawback under Section 74
o Depreciated drawback depending on times slab i.e. how much time goods have been taken for use
o Rules under ‘Re-export of Imported Goods Custom Duty Rules, 1975’, if you are re-exporting by post
o Rules under ‘Re-export of Imported Goods Custom Duty Rules, 1975’, if you are re-exporting by sea or air
o Rule 7 of the Drawback Rules wherein an importer receives erroneous drawback or surplus drawback
To further learn in detail about ‘Re-export of imported goods (Drawback of Customs duties) Rules, 1995’, do watch the video.
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