IGNOU : M.COM : IBO 4 : UNIT 3 : Q - 5. Explain the main export incentives in India and the documents needed to claim them.

 

Ans. Documents for Claiming Incentives

For providing a number of facilities and incentives to the export goods, a number of documents are required to be made out by the exporter. Some of the important facilities and incentives and the corresponding documents are discussed as follows:

i) Priority allotment of wagons : The railways in India allot wagons to export consignments moving to ports for shipment on a priority basis, For this purpose, the exporter has to file forwarding note (a railway document), Wagon registration fee receipt and shipping order, which is issued by the shipping company on reservation of space on the ship.

ii) Rebate in Central excise : Main documents are Invoice and AR4/AR5 Forms.

iii) Duty drawback : For claiming this incentive the main document is the customs attested drawback copy of shipping bill. This-is usually to be supported by drawback payment order (format prescribed by the customs authorities), a copy of the final commercial invoice and a copy of bill of lading airway bill.