Tag Archives: Duty Drawback
Basic Customs duty debited through DEPB scrip is eligible for drawback
HIGH COURT OF GUJARAT Ratnamani Metals & Tubes Ltd. v. Union of India AKIL KURESHI AND A.Y. KOGJE, JJ. SPECIAL CIVIL APPLICATION NOS. 8025 OF 2015 AND 2753 OF 2016 MAY 6, 2016 Paresh M Dave, Paritosh Gupta, J.C. Patel and Dhaval Shah, Advs. for the Petitioner. Devang Vyas and Y. N. Ravani, Adv. for… Read More »
Increase in All Industry Rates (AIR) of Duty Drawback on gold jewellery and silver jewellery/articles
Circular No.30/2016-Customs F. No. 609/35/2016-DBK Government of India Ministry of Finance Department of Revenue Central Board of Excise & Customs New Delhi, dated 24th June, 2016 To Principal Chief Commissioners / Principal Directors General Chief Commissioners / Directors General Principal Commissioners & Commissioners, all under CBEC Subject: Increase in All Industry Rates (AIR) of Duty… Read More »
DEPB and Duty Drawback not eligible for deduction u/s 80-IB
Held Duty drawback receipt/DEPB benefits do not form part of the net profits of eligible industrial undertaking for the purposes of section 80-I/80-IA/80-IB of the 1961 Act. SUPREME COURT OF INDIA Liberty India v. Commissioner of Income-tax* S.H. KAPADIA AFTAB ALAM, JJ. CIVIL APPEAL NO. 5891 OF 2009 AND OTHERS AUGUST 31, 2009 JUDGMENT S.H.… Read More »
Amendments in All Industry Rates of Duty Drawback
Amendments effective 11.2.2016 to the All Industry Rates of Duty Drawback Circular No. 06/2016-Customs F. No. 609/98/2015-DBK Government of India Ministry of Finance, Department of Revenue Central Board of Excise & Customs New Delhi, dated 9 th February, 2016 To Principal Chief Commissioners / Principal Directors General Chief Commissioners / Directors General Principal Commissioners &… Read More »
Refund of Duty Drawback is Capital receipt if it was part of project cost:Delhi High Court
Facts of the Case The assessee in the relevant assessment year 2009-10 was in the process of setting up a thermal power generation plant at Maithon, Jharkhand. It applied to the Ministry of Power, Government of India for grant of mega power status which was under examination during the assessment year 2009-10. The project was… Read More »
Circular for changes in All Industry Rates of Duty Drawback
Circular No. 29/2015-Customs F. No. 609/98/2015-DBK Government of India Ministry of Finance, Department of Revenue Central Board of Excise & Customs New Delhi, dated 16th November, 2015 To Principal Chief Commissioners / Chief Commissioners (All under CBEC) Principal Directors General / Directors General (All under CBEC) Principal Commissioners/Commissioners (All under CBEC) Subject: All Industry Rates… Read More »
Government notifies revised all industry rates of Duty Drawback
Ministry of Finance of Govt of India on 16-November, 2015 Government notifies revised all industry rates of Duty Drawback and other Duty Drawback related changes effective from 23rd November, 2015 The Central Government has notified the Schedule of revised All Industry Rates of Duty Drawback effective from 23rd November, 2015. These revised rates are based… Read More »