** Sagar Sandesh print version ceases to be published from December 31, 2017. New look E-paper would be available from Jan. 1, 2018 onwards. free of cost.**

Duty-draw back scam in Tuticorin port; CBI registers cases

The Central Bureau of Investigations have registered cases regarding duty draw back scandal where hosiery manufacturers of Tirupur and Hosur have been accused of cheating the government by claiming rebates without exporting goods from VOC Port Tuticorin.

Eight manufacturers and four companies claiming duty drawback without any export

In the cases registered by the Madurai unit of the CBI as many as eight manufacturers and four companies relating to cargo management and freight operations have been accused of submitting false shipping bills to claim duty draw back from the customs without making any export.

As export incentive, govt gives a rebate of about ten per cent on the duty

Under the duty draw back scheme conceived as a export incentive measure by the government, exporters get a rebate of about ten per cent on the duty they have paid from the manufacturing stage to till the goods are exported. This is given when the container leaves the container freight station or inland container depot to the ship for exports.

According to sources this is the first case when exporters claimed draw back without sending any export consignment. The earlier practice was to send garbage and claim draw back treating them as exports.

 

Disclaimer
Copyright © 2019 PORT TO PORT - Shipping Services Portal ( Sagar Sandesh ). All rights reserved.

Follow Us