Revision of duty drawback rates

Ludhiana, October 6, 2012: Dr. A. Sakthivel, Chairman, Apparel Export Promotion Council (AEPC), took-up the matter with regard to revision of duty drawback rates with Ministry of Finance, Department of Revenue.

As per the available information with City Air News, he had follow-up meetings with Dr. Saumitra Chaudhuri, Chairman, Drawback Committee and Rajiv Talwar, Joint Secretary, (DBK).

Dr. A. Sakthivel has informed that Government of India has accepted their recommendations and announced revised upward duty drawback rates vide notification no. 92/2012-Customs (N.T.) dated 4th Ocotober’2012.

A comparative statement of Duty Drawback Rates effective:

 

				Drawback rate effective from 1.10.2011			Drawback rate effective from 10.10.2012
Tariff Item		Product		Rate (%)		Value Cap/ piece (Rs.)		Rate (%)		Value Cap/ piece (Rs.)
61 & 62
		Of cotton		7.1%		45		7.9		55
		Of blend containing cotton and MMF fibre		8.2%		47		9.3		57
		Of MMF fibre		9.1%		49		10.5		59
		Of Silk (other than containing Noil silk)		7%		80		7		96
		Of Noil Silk		7%		20		7		24
		Of Wool		7.1%		45		7.9		55
		Of Others		7.1%		36		7.9		44

For Knitted T-Shirts (Drawback rate effective from 10.10.2012)

 

			Rate (%)		Value Cap/piece (Rs.)
Of cotton		7.9		34
Of blend containing cotton and MMF fibre		9.3		36
Of MMF fibre		10.5		39
Of Silk (other than containing Noil silk)		7		74
Of Noil Silk		7		22
Of Wool		7.9		44
Of Others		7.9		33

These rates are effective from 10th October, 2012.