CMA Final · Indirect Tax Laws and Practice · Duty Drawback
Under section 74 of the Customs Act, 1962, on which date are goods deemed to have been entered for export for the purposes of the drawback provision?
For section 74 purposes, goods are deemed entered for export on the date with reference to which the rate of duty is calculated under section 16, as stated in section 74(4)(a), rather than on the filing date or the vessel's departure date.
- AThe date the shipping bill is first filed
- BThe date of the let export order only
- CThe date with reference to which the rate of duty is calculated under section 16Correct
- DThe date the vessel departs from the port
Explanation
Section 74(4)(a) says goods are deemed entered for export on the date with reference to which the rate of duty is calculated under section 16. The other dates are not the statutory deeming date for this purpose.
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