drawback

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drawback

Economics a refund of customs or excise duty paid on goods that are being exported or used in the production of manufactured exports
References in periodicals archive ?
b) Re-adjust promptly all the announced and revised duty drawbacks and other policy measures.
c) Adopt a method of determining duty drawbacks based on proper inputoutput coefficients, aided by professional engineers and accountants.
Thus, permission of zero-rating and duty drawback were allowed on exports to Afghanistan via land route.
Some other noteworthy measures of facilitation for exporters include round the clock export facility at all customs stations, waiving of prior permission for late examination of export cargo, reduction of time from 10 days to 3 days generally for laboratory tests reports and where required introduction of evening shifts for speedier disposal of duty drawback claims.
For the exports of cement, duty drawback will be allowed on inputs including the furnace oil.
The increased volumes and the problem of uncertainties can be controlled by introduction of ADP (Automatic Data Processing) application for handling and disposal of duty drawback claims.
To my mind the problem of simplification of procedures of duty drawback would require the following steps:
It was also suggested that the government should release billions of rupees stuck with the CBR in the form of sales tax refund and duty drawbacks, a long standing demand of the business continuity.
Traders expected that simplifying the duty drawback system would be less advantageous to them.