Time limit for section 74 drawback: 

Under sub-clause (b) of section 74(1), it has been provided that such imported goods should be entered for export within two years from the date of payment of duty on the importation. It may be noted that the time period is related to the date of payment of duty and not date of importation.

For instance, if the importer warehoused the imported goods, the relevant date is the date on which the warehoused goods are cleared for home consumption and not the date when the goods are imported.

Extension of time-limit: In any particular case, if sufficient reason is shown by the importer as to why he was prevented from exporting the goods within the said period of two years, the Central Board of Excise and Customs may, in its discretion, extend the period further depending upon the merits of each case.