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'If export proceeds not realised, you need to surrender RoDTEP benefit'

If the importer fails to comply with the condition of the notification which was claimed at the time of import, the duty is required to be paid as per the rate applicable

Photo: Bloomberg
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Photo: Bloomberg

T N C Rajagopalan
Under the duty drawback scheme, we are required to surrender proportionate or full amount of drawback taken, along with interest, in case of short realisation or non-realisation of export proceeds within the time allowed (original or extended) by the AD bank or RBI. Do we need to surrender RoDTEP scheme-related export benefits also in similar cases?
 
Yes. The MF (DR) Circular no. 23/2021-Cus dated September 30, 2021 makes it clear that duty credit allowed under the RoDTEP scheme is subject to realisation of sale proceeds within the period allowed by RBI. The detailed provisions are mentioned in conditions at Para

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First Published: Oct 31 2022 | 11:19 PM IST

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