As an exporter, do you know that you are eligible to recover 99% of customs duty paid on imports? Yes, it is true. Moreover, you can get a custom refund with proper documentation as per regulations. You can apply for backdated refunds too, up to 3 years back. Well, you are eligible for thousands of rupees as a customs refund if eligible. But you may be unaware of the same. Your accountants may be good at compiling details. But you need expert aid when you have a custom refund. iMaster expert assists you in claiming your custom refund. If you are eligible for a custom refund, you can count on us to get the refund amount into your bank account.
What is a Custom refund?
There may be scenarios where importers-exporters would pay excess duty above normal limits. It could be due to wrong goods classification, incorrect value or rate of duty, and so on. AS Per Customs Act, exporters and importers can claim a refund of such excess amount paid. This refund claim is a custom refund. Exporters can claim customs duty refunds for inputs / raw materials. -that got used for export goods production. India’s Foreign trade policy offers a refund for deemed exports too. iMaster consultants ensure you get the entire eligible refund of customs duty. We make sure you get your customs duty drawback into your bank account. Avail end-to-end custom duty refund services from our experienced consultants.
Essentials of Custom duty refund- Who is eligible for Customs refund?
A custom drawback can get claimed when exports of unused or used goods. You need to identify the duty paid elements to claim a custom duty refund. That is, products for which import duty gets paid. And that later gets exported, for such products you can claim customs refund. It is important to ensure exporters come under custom duty refund schedules. They can get duty drawback as per prescribed rates. Exporters not covered under custom-duty-refund schedules can claim a refund under brand-rate-fixation. One can claim a refund under special brand rates too. In the case where all-industry rates are less than actual custom duty paid.
Documents required to claim a custom refund
Documents required to claim custom duty-interest refund are as follows. Triplicate copy of Pur-chase invoice/ Bill of entry/ Baggage receipt. / Shipping bill/ post parcel wrapper as applicable. In the case of an agent, a letter from the exporter./ importer/ buyer. Duty payment evidence.- like duty challan or other documents. Signed workings for refund claim. Customs attested bill with packing list. Airway bill or bill of lading. Documents to establish applicant eligibility to claim a refund. Example- CA-certificate wherever applicable. Pur-chase order and contract. Department order-original. / in revision/ appeal / any other order. Custodian-short-delivery certificate. Supplier short shipment certificate. Survey report if applicable. Insurance claim settlement certificate if applicable. Catalog or technical write-up if applicable. Freight or insurance or other bills if applicable. Origin certificate if applicable. Inventory list. Modvat-cenvat credit certificate from excise authority. Any other document is needed.
Documents required for refund of custom deposits are as follows. Original challans paid. Importer bill of entry copy. SVB order copy. Final assessment on cancellation of P.D. bonds. DGFT export obligation fulfillment certificate. Bank guarantee or bond canceled. CESTAT copy or appeal order. Any other document necessary.
Custom refund Services offered by iMaster
Avail of quick custom refunds through iMaster experts. Our consultants ensure you get refund credits into your bank account. All your data inputs for custom refund get done by online electronic mode. This aids you in maintaining comprehensive records. Get frequent updates on your custom refund program status. Our custom refund support services include checking eligibility. Application submission. Follow-up of application. Represent your case in case of deficiencies said by the department. And ensure all requirements get done within time.
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iMaster India Private Limited. – India’s best-rated custom consultants # Call-+91- 9500083333 # email us – [email protected].
Why Hire iMaster for your Custom Refund?
iMaster India Private Limited offers end-to-end custom-duty-refund consultancy services. We offer complete support until you get credit into your bank account. We have 20+ years of experience in supporting clients to claim custom duty refunds. We are reliable and efficient in handling custom duty business for any type of business. Our well-experienced custom refund consultants are always available to support you. We take care of all the paperwork and ensure your custom law compliance. Get a custom refund within less time. We charge very nominal fees and offer top-class professional service. Our expert team has decades of experience in custom refund documentation and representation. We cater to client requirements across various business sectors. We are good and efficient in handling custom refunds for any business.