Deemed Exports Drawback-Defination
- Document type
- Other
- Dated
- Category
- Duty Drawback Scheme
Deemed Exports Drawback-Defination
Export assistance is also
granted against specified sales of goods (Including supplies to EPCG licence
holders) in India. Such sales are known as Deemed Exports. Payment for the goods
is received by the supplier in Indian rupees, but such supplies may earn or save
foreign exchange for the country. These supplies known as deemed exports are to
be distinguished from physical exports which are sales outside the frontiers of
the country.
Definition
The EXIM Policy defines deemed exports as "those transactions in which the goods
supplied do not leave the country". Hence, the condition for "payment of
the goods is made in India" as applicable upto March "99 is no longer
applicable. But the goods supplied must have been manufactured in India.