Drawback - All Industry Rate of Drawback - Misdeclaration of Cast Alloy.

Document Text

Circular No. 44/99-Cus Dated 2/7/1999 F.No.600/85.10 & 85.116/99-DBK Government of India Ministry of Finance Department of Revenue, New Delhi Subject: All Industry Rate of Drawback - Misdeclaration of Cast Alloy Permanent Magnets - SS No.85-10 - regarding. It has been brought to the notice of the Board that in respect of export product Cast Alloy Permanent Magnets (in unmagnetised/demagnetised form) falling under 55 No. 85.10 of the Drawback Table, which are made primarily out of the imported inputs Cobalt, Nickel and Iron (Pure) and the drawback admissible is only towards Customs allocation in terms of General Note 17 of Drawback Schedule is being abused by certain exporters by misdeclaring the export product and thereby availing drawback wrongly. Commissioners are hereby requested to device suitable procedure for drawal of samples, if necessary, or submission of such evidence which may prove that imported inputs have actually been used in the manufacture and export of cast alloy permanent magnets in unmagnetised / demagnetized form. After satisfaction of the proper officer, the admissibility of the drawback should be determined so as to prevent such type of misuse and wrong availment of drawback. All such instances of abuse should be brought to the notice of the Drawback Directorate. Sd/- (S.P.Srivastava) Joint Secretary to the Gov. of India

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