33 of 1974 [with effect from 1 August, 1974] Publications Act, No. Ins. Can cooling-off period U/ S 13-B(2) of Hindu Marriage Act for divorce by mutual consent be waived? 6 (NO. 1 January 1965. 4. 26-5-1995). Rebates, refunds and drawbacks of duty 78-96 CHAPTER XI. Deemed Exports provision under FTP also provides drawback for deemed export purposes. 1. 10[(d) for the manner and the time within which the claim for payment of drawback may be filed;], 10[(3) The power to make rules conferred by sub-section (2) shall include the power to give drawback with retrospective effect from a date not earlier than the date of changes in the rates of duty on inputs used in the export goods.]. And I’ll continue this way in future too. Professional Course, Course on GST Exports Whether earning wife is entitled to get interim maintenance U/S 24 of Hindu Marriage Act? (a) goods shall be deemed to have been entered for export on the date with reference to which the rate of duty is calculated under section 16; (b) in the case of goods assessed to duty provisionally under section 18, the date of payment of the provisional duty shall be deemed to be the date of payment of duty. The Directorate General (Intelligence and Investigation), 8 Customs and Federal Excise 3B. Subs. of Rights on Divorce) Act, 1986, The Muslim Personal Law (Shariat) Application Act, 1937, The Code of Criminal Procedure, 1973 (CrPc), No material evidence 498A against Parents quashed. Interest at the rate of 15% P.A. 13. Appointment of Customs Officers 5. Section 2(4): the rest of this Act brought into force, on 1 October 2018, by clause 2(2) of the Customs and Excise Act 2018 Commencement Order 2018 (LI 2018/148). (1) These regulations may be cited as the Customs … ], (2) The Central Government may make rules for the purpose of carrying out the provisions of sub-section (1) and, in particular, such rules may provide—, 8[(a) for the payment of drawback equal to the amount of duty actually paid on the imported materials used in the manufacture or processing of the goods or carrying out any operation on the goods or as is specified in the rules as the average amount of duty paid on the materials of that class or description used in the manufacture or processing of export goods or carrying out any operation on export goods of that class or description either by manufacturers generally or by persons processing or carrying on any operation generally or by any particular manufacturer or particular person carrying on any process or other operation, and interest, if any, payable thereon;]. Appointment of Director General, Deputy Director General and other officers 4. 61, for “manufacturer” (w.e.f. 120 (w.e.f. Ins. Excise 8. (1) Where it appears to the Central Government that in respect of goods of any class or description manufactured, processed or on which any operation has been carried out in India , being goods which have been entered for export and in respect of which an order permitting the clearance and loading thereof for exportation has been made under section 51 by the proper officer, or being goods entered for export by post under section 82 and in respect of which an order permitting clearance for exportation has been made by the proper officer, a drawback should be allowed of duties of customs chargeable under this Act on any imported materials of a class or description used in the manufacture or processing of such goods or carrying out any operation on such goods, the Central Government may, by notification in the Official Gazette, direct that drawback shall be allowed in respect of such goods in accordance with, and subject to, the rules made under sub-section (2). 61, for clause (a) (w.e.f. per day, Conversion Of Unsecured Loan To Equity Pursuant To Section 62(3) Of Companies Act, 2013. 12. Does Family Court has jurisdiction to entertain an application for relief u/s. (1) Where it appears to the Central Government that in respect of goods of any class or description 1[manufactured, processed or on which any operation has been carried out in India] 2[, being goods which have been entered for export and in respect of which an order permitting the clearance and loading thereof for exportation has been made under section 51 by the proper officer], 3[or being goods entered for export by post under section 82 and in respect of which an order permitting clearance for exportation has been made by the proper officer], a drawback should be allowed of duties of customs chargeable under this Act on any imported materials of a class or description used in the 4[manufacture or processing of such goods or carrying out any operation on such goods], the Central Government may, by notification in the Official Gazette, direct that drawback shall be allowed in respect of such goods in accordance with, and subject to, the rules made under sub-section (2): 5[Provided that no drawback shall be allowed under this sub-section in respect of any of the aforesaid goods which the Central Government may, by rules made under sub-section (2), specify, if the export value of such goods or class of goods is less than the value of the imported materials used in the 4[manufacture or processing of such goods or carrying out any operation on such goods] or class of goods, or is not more than such percentage of the value of the imported materials used in the 4[manufacture or processing of such goods or carrying out any operation on such goods] or class of goods as the Central Government may, by notification in the Official Gazette, specify in this behalf: Provided further that where any drawback has been allowed on any goods under this sub-section and the sale proceeds in respect of such goods are not received by or on behalf of the exporter in India within the time allowed under the 6[Foreign Exchange Management Act, 1999 (42 of 1999)], such drawback shall be deemed never to have been allowed and the Central Government may, by rules made under sub-section (2), specify the procedure for the recovery or adjustment of the amount of such drawback]. Professional Course, Online Excel Course Your email address will not be published. Amendments History: 1. (2) Notwithstanding anything contained in sub-section (1), the rate of drawback in the case of goods which have been used after the importation thereof shall be such as the Central Government, having regard to the duration of use, depreciation in value and other relevant circumstances, may, by notification in the Official Gazette, fix. Service ‘Office Software Protection Platform’ (osppsvc) failed to start’, KORLAI – Portuguese speaking village in India, FLAGS SIMILAR TO AUSTRALIA AND NEW ZEALAND, COVID-19 defeated – How i cured myself, Symptoms and treatment for Corona at home, Rinascerò, Rinascerai – Roby Facchinetti – PLEASE FORWARD. 10 (w.e.f. 11. Short title, extent and commencement. 6/1C/44) 40460 AMENDMENT OF SCHEDULE NO. 120 (w.e.f. —– Professional Course, India's largest network for finance professionals, Section 74 Vs Section 75 of Customs Act, 1962, Process for Aadhaar Authentication or EKYC for Existing Taxpayer, Quarterly Return Monthly Payment under GST, Seizure of undisclosed jewellery and its assessment thereupon- Legal Treatise, Validity of e-way bill narrowed by increasing distance from 100 km. Duty Drawback is governed by a couple of sections in the Customs Act, 1962 namely Sec.74 and Sec.75. Subs. by Act 22 of 1995, sec. THE CUSTOMS ACT,1969 (i) CONTENTS CHAPTER 1 PRELIMINARY Section Page 1. 6 (No. 9. 61, for “manufacture” (w.e.f. 27-12-1985). 6 to the said Act is hereby amended 02 DECEMBER 2016 R. 1479 Customs and Excise A ct, 1964: Amendment of Schedule No. (c)   provide for the manner and the time within which a claim for payment of drawback is to be filed. (13) Where any penalty is imposed under section 73 or section 74, no penalty for the same act or omission shall be imposed on the same person under any other provision of this Act. Section 75 of the Act, empowers duty drawback on export of manufactured articles. She stopped breast feed; to save her Beauty. Subs. Subs. Section 74 specifically defines that the FINAL GOODS are imported and later re-exported, while Section 75 says for importing RAW MATERIAL first, process the same, and resultant FINAL GOODS are to be exported. DaBullGonna Xo Cafe – Alcoholic Dalgona Shot ( My own innovative shot), SOLVED : How to Fix Error 1920. Act? Ins. Ins. Yet, they got their own different views. (Here interest accrued after expiry of one months). X X X X Extracts X X X X..... ction 28AA] and the amount of interest shall be calculated for the period beginning from the date of payment of such drawback to the claimant till the date of recovery of such drawback. Something similar I came across during this November attempt, so thought of going in detail of each section and understand the actual meaning they want to convey. Section 75A (1) of the Customs Act stipulate that in case of delayed payment of drawback under section 74 and 75 of the Act, interest at the rate of 6% prescribed under Section 27A will be applicable. Refund of Customs Duty Order (made under section … Subs. - Notes:- 1. SECTION 75 : Drawback on imported materials used in the manufacture of goods which are “exported”. A new Section 75 A has been incorporated in the Customs Act to provide for payment of interest on delayed payment of drawback. This Act may be cited as the Customs Act. Customs dues, suf ferance wharves and transit sheds are omitted as it was not possible to prepare up-to-date consolidated instruments. 1975 – this is also to protect the domestic industry from the threat of foreign goods flooding the Indian market. – –. 176 [75A. 3. 26-5-1995). 26-5-1995). 7[(1A) Where it appears to the Central Government that the quantity of a particular material imported into India is more than the total quantity of like material that has been used in the goods 1[manufactured, processed or on which any operation has been carried out in India] and exported outside India, then, the Central Government may, by notification in the Official Gazette, declare that so much of the material as is contained in the goods exported shall, for the purpose of sub-section (1), be deemed to be imported material. by Act 22 of 1995, sec. 10. 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