Government introduces changes in the drawback rates of certain export goods

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Published: January 25, 2018 6:05:50 PM

The Government had notified the All Industry Rates (AIRs) of Duty Drawback effective from 1 October 2017. As a step towards more efficient Input Tax Neutralization on the exports, after considering various representations from the trade and industry, the government has enhanced the All Industry Rates of duty drawback for 102 tariff items.

daikin india, daikin india 2018 turnover, ac sales in india, daikin growthThe Government had notified the All Industry Rates (AIRs) of Duty Drawback effective from 1 October 2017. (Reuters)

The Government had notified the All Industry Rates (AIRs) of Duty Drawback effective from 1 October 2017. As a step towards more efficient Input Tax Neutralization on the exports, after considering various representations from the trade and industry, the government has enhanced the All Industry Rates of duty drawback for 102 tariff items.

The Export Items mainly include Marine and Seafood Products, Automobile Tyres and Bicycle Tyres/Tubes, Leather and Articles of Leather, Yarn and Fabric of Wool, Glass Handicrafts and Bicycles, Etc.

The Revised Rates of Duty Drawback will help address the concerns of these export sectors and make India’s exports more competitive in global economy. For further details, Notification No. 8/2018-Cus (N.T.) dated 22.01.2018 may be downloaded from the website cbec.gov.in. The Enhanced Rates of Duty Drawback will be effective from 25 January 2018.

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