Exporters get more time to make drawback claims .

New Delhi, June 21 Exporters will get more time to make drawback claims on their re-exports of imported goods. The Finance Ministry has amended drawback rules to empower the Customs Commissioner to provide six month extension of time limit for filing of drawback claims. This six-month extension is beyond the three month extension that an Assistance Commissioner has been empowered to provide. However, an exporter looking for an extension of time limit would now be required to pay a fee. For application before the Assistant Commissioner, for three-month extension, the application fee is one per cent of free on board (FOB) value of exports or Rs 1,000, whichever is lower. To make an application before the Customs Commissioner, for extending the time limit, an exporter will have to pay an application fee of two per cent of FOB value or Rs 2,000, whichever is less. Currently, a claim for drawback (for re-export of imported goods) would have to be made within three months from the date on which an order permitting clearance and loading of goods for exportation has been issued. Assistance commissioner or deputy commissioner could give a further period of three months for making the claim.

Source : Business Line