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Accounting Procedures for Drawback

customs-cbp · CBP · Rule · Published 1995-08-11 · Effective 1995-11-09 · 60 FR 40995

Document

Document number
95-19911
Federal Register citation
60 FR 40995
CFR reference
19 CFR 191
Type
Rule
Action
Final interpretive rule.
Category
customs-cbp
Sub-agency
CBP
Publication date
1995-08-11
Effective date
1995-11-09
Treasury docket
T.D. 95-61

Abstract

This document gives notice that Customs is amending the general drawback rate (or contract) for crude petroleum and petroleum derivatives (Treasury Decision (T.D.) 84-49) to permit first-in-first- out (FIFO) accounting for exports and drawback deliveries of petroleum products with different drawback factors which are commingled in inventory. Customs is also revoking a published ruling (Customs Service Decision (C.S.D.) 84-82) under which identification of merchandise and articles for drawback purposes is permitted on a ``higher-to-lower'' basis. However, drawback claimants operating under properly approved specific drawback rates may continue to claim drawback using higher-to- lower accounting procedures, as provided for in C.S.D. 84-82, if the drawback rates under which they are operating expressly provide for the use of such procedures, until such rates are modified, with notice to the rate holders.

Source

Authoritative
Federal Register document
Machine
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