Search Result for : Brand Rates

Duty drawback rates in India are mostly associated with All Industry Rates (AIRs) based on SION. And while there is a provision for fixing Brand Rates, why do only a few exporters opt for it? Are Brand Rates suitable for only those exporters who engage in value additions and suffer from significant wastage during the production cycle? Is AIR actually more realistic in addition to being simple? And is the ‘claim process’ the very reason why Brand Rates isn’t a popular option for Indian exporters?Indranil das | January 2017 Issue | The Dollar BusinessIt’s a known fact that many governments across the globe, particularly those in highly protected economies, refund all taxes paid by an exporter – be it customs ...

The Dollar Business Bureau The CBEC has issued a notification No.54/2016-Customs November 22, 2016, further revising the already simplified procedure for fixation of brand rates. As per the new notification, the CBEC clarifies that the requirement of original duty paying documents furnished by the exporter to claim drawback duties with the extent of utilization for the brand rate application, have been further simplified. In other words, the applicant need not submit a bulk of documents and instead file only the following ones: a. The working sheet (submitted by applicant with brand rate fixation claim) showing the drawback amount, each document wise, in support of claim, signed by applicant b. a certificate from an independent Cost Accountant/Chartered Accountant verifying the details submitted by the applicant c. ...