What is the primary purpose of the ‘Duty Drawback Scheme?
To rebate the incidence of Customs and Central Excise duties on materials used in exported goods
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The Central Board of Indirect Taxes and Customs (CBIC) now automatically deposits duty drawback payments into exporters’ bank accounts. This WTO-compliant scheme, under the Customs Act, 1962, rebates Customs and Central Excise duties on imported and excisable materials used in exports. It promotes exports by ensuring they are zero-rated, relieving exporters of specific tax burdens. Eligibility includes goods imported, used, or manufactured from imported or indigenous materials.
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