Step-by-Step Process to Claim Benefits from the Duty Drawback Scheme
Exporters who want to take advantage of the Duty Drawback Scheme must follow a precise process to claim refunds on duties paid for imported goods. Here's a step-by-step guide on how to claim the benefits of the Duty Drawback Scheme effectively: Step 1: Import Goods and Pay Duties The first step is to import goods into your country and pay the applicable import duties. These duties are typically paid at the time of importation and are calculated based on the value of the goods. It's essential to retain all documentation related to the importation, as this will be required for the refund claim. Step 2: Use Imported Goods in Production Once the goods are imported, they must be used to manufacture products intended for export. These goods can include raw materials, components, or finished products that will be sent abroad. The key is that the imported goods must be a part of the final product that is exported. Step 3: Export the Finished Goods After the goods have been produce...