Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
Popular Search: TDS :: cpt :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ACCOUNTING STANDARDS :: due date for vat payment :: Central Excise rule to resale the machines to a new company :: VAT RATES :: articles on VAT and GST in India :: VAT Audit :: TAX RATES - GOODS TAXABLE @ 4% :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ACCOUNTING STANDARD :: list of goods taxed at 4% :: form 3cd :: empanelment
Customs and Excise »
 Higher petro excise props up govt tax kitty
 Seeks to further amend notification No. 02/2011-Central Excise dated 1st March, 2011.
  Rate of exchange of conversion of the foreign currency with effect from 21st October, 2016
 Rate of exchange of conversion of the foreign currency with effect from 21st October, 2016
 Seeks to amend Notification No. 27/2014-Central Excise
 Government doubles limit of excise duty evasion for arrest and prosecution
 Excise duty evasion limit to warrant arrest revised to Rs 2 crore
 Guidelines for launching of prosecution in relation to offences punishable under the Customs Act, 1962
 GST notification triggers uncertainty over excise duty
 Preparing for GST: govt looking at restructuring excise/customs cadre
 Refund of Terminal Excise Duty (TED) under Deemed Exports where Duty has been paid from CENVAT Credit and ab-initio waiver is not available.

Audit Report No.15/2011-2012, Section 2 - Duty Drawback Scheme: Re-export under section 74 of Customs Act 1962
May, 12th 2016
                                                                     Circular No. 16/2016-Customs

                                         F.No. 603/01/2016-DBK
                                           Government of India
                               Ministry of Finance, Department of Revenue
                                   Central Board of Excise & Customs

                                                                    New Delhi, dated 9th May, 2016
Principal Chief Commissioners / Chief Commissioners
Principal Directors General / Directors General
Principal Commissioners/Commissioners,
all under CBEC

Subject: Audit Report No.15/2011-2012, Section 2 - Duty Drawback Scheme: Re-export under
section 74 of Customs Act 1962 -regarding


      Attention of field formations is drawn to Board's Circular No.46/2011-Customs dated
20.10.2011 read with Circular No. 35/2013-Customs which strengthened the assessment practice
for export under section 74 of the Customs Act 1962 with respect to whether identity of the
goods is established or not as the same goods which were earlier imported on payment of duty
under the specific import documents, the determination of use with respect to declaration that
goods are "unused" and for ensuring compliance with provisions of Rule 5 of the Re-export of
Imported Goods (Drawback of Customs Duties) Rules, 1995. The Circular had directed examination
of goods and verification of various parameters for identification of goods and required each
case of re-export to be dealt by the Asst/Deputy Commissioner of Customs through a speaking
and reasoned appealable order. This has the advantage of being also examined by the
Commissioner for its legality and propriety.

      Based on feedback, Board has noted some issues and to enhance the efficiency of this
mechanism it further directs that the examination report on shipping bill must be recorded
separately in a self-contained and explicit manner on each of the two aspects of identity and
use. The examination report should not be made of phrases that are cryptic, generalised or
sweeping in nature such as `as per declaration', `in as such condition', `found in order', `found as
declared', `goods are same' etc.

                                                                                    Yours faithfully,

                                                                                     (Rajiv Shankar)
                                                                                    OSD (Drawback)
                                                                                      Tel: 23367563
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Wholesale Silver Jewelry

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions