CMA Final · Indirect Tax Laws and Practice · Duty Drawback
Under section 74(4)(a), goods are deemed to have been entered for export on which date?
Goods are deemed entered for export on the date with reference to which the rate of duty is calculated under section 16, as laid down in section 74(4)(a), and not on the date of arrival abroad or sanction of drawback.
- AThe date with reference to which the rate of duty is calculated under section 16Correct
- BThe date of the shipping bill's filing with the bank
- CThe date of arrival at the foreign port
- DThe date on which drawback is sanctioned
Explanation
Section 74(4)(a) states that goods are deemed entered for export on the date with reference to which the rate of duty is calculated under section 16. The date of sanction or arrival abroad is not used for this deeming.
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