Duty Drawback

Posted in Operations and Supply Chain Terms, Total Reads: 2748
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Definition: Duty Drawback

Duty Drawback is the amount of duty that is returned back as a rebate. This occurs generally when duty has been imposed on imported goods but the goods eventually end up being exported.

In such cases, the duty tax pertaining to the amount of goods exported is returned back as a rebate as part of an incentive. The amount is necessarily not paid back to the individual or the organization but it is adjusted in the further transactions that happen between them and the customs department.

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