Page 133 - COMBINED QUESTIONS AND ANSWERS - EDITION 2019 - PART II_Neat

DRAWBACK
Q-506: In which one says no duty drawback will be allowed where the due in respect of any goods is
less than fifty rupees

(i) Section 76(a) of the Customs Act, 1962
(ii) Section 76(b) of the Customs Act, 1962
(iii) Section 76(c) of the Customs Act, 1962
(iv) None of the above

A-506: iii - Section 76(c) of the Customs Act, 1962
Q-507: The duty drawback revises amount or rates determined under
(i) Rule 2 of the Customs and Central Excise Duties Drawback Rules, 2017
(ii) Rule 3 of the Customs and Central Excise Duties Drawback Rules, 2017
(iii) Rule 4 of the Customs and Central Excise Duties Drawback Rules, 2017
(iv) Rule 5 of the Customs and Central Excise Duties Drawback Rules, 2017
A-507: iii - Rule 4 of the Customs and Central Excise Duties Drawback Rules, 2017
Q-508: The Drawback is paid after the clearance of LCL cargo from

(i) Concerned Jurisdictional Commissionerate
(ii) Gateway port
(iii) The inland ICDs/CFSs immediately
(iv) None of the above
A-508: iii - Gateway port

Q-509: The drawback amount or rate determined under Rule 3 shall not exceed
(i) One third of the market price of the export product
(ii) Two third of the market price of the export product
(iii) 50% of the market price of the export product
(iv) All of the above
A-509: i - One third of the market price of the export product

Q-510: Which party involved in Bills of Exchange?
(i) Drawer
(ii) Drawee
(iii) Payee
(iv) All of the above

A-510: iv - All of the above
Q-511: The determining an amount or rate of drawback under the Customs and Central Excise
Duties Drawback Rules, 2017
(i) The average quantity or value of each class or description of the materials from
which a particular class of goods is ordinarily produced or manufactured in India
(ii) The average quantity or value of the imported materials or excisable materials used
for production or manufacture in India of a particular class of goods

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