Home / Knowledge / News / Apparel/Garments / Indian govt hikes duty drawback rates to boost exports
Indian govt hikes duty drawback rates to boost exports
19
Sep '13
The Government of India has notified the revised duty drawback rates applicable to articles of apparel and clothing accessories, knitted or crocheted (under Chapter 61 of Customs Schedule); articles of apparel and clothing accessories, not knitted or crocheted (Chapter 62); and other made-up textile articles, sets, worn clothing and worn textile articles (Chapter 63), which would be effective from September 21, 2013.
 
The drawback rates for garments made of cotton, man-made fibre and silk have been increased to 7.6 percent, 10.2 percent and 7.8 percent, respectively for 2013-14, but the detailed information can be found in Customs Notification No. 98/2013-Cus (NT).
 
The revised All Industry Rates of duty drawback have been notified by the Central Board of Excise and Customs, Ministry of Finance, on the recommendations of an expert committee headed by Saumitra Chaudhuri, Member of the Planning Commission and of the Prime Minister’s Economic Advisory Council.
 
Apart from the rate changes, to assist exporters, a large number of rationalization measures have also been undertaken to realign entries, provide rates on more items, better differentiate all industry rates for export products with higher duty incidence or to address classification issues on export products. 
 
With the revised rates, the Central Government will continue to support exporters with substantial total drawback. Moreover, for expeditiously addressing exporters concerns, the term of the Committee has been continued for another three months. 
 
Commenting on the hike in duty drawback rate, Apparel Export Promotion Council (AEPC) chairman A Sakthivel said it would give a boost to India’s overseas clothing shipments.
 

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 19th Jan 2017

Pakistan imposes duty on Indian fine cotton yarn

A provisional countervailing duty ranging from Rs 26.89 to Rs 55.8 a...

Textiles | On 19th Jan 2017

Union Budget: Textile sector expects excise duty revisions

Excise duty on man-made fibres should be reduced to bring it on par...

Union textiles minister Smriti Irani at the inauguration of IIGF in New Delhi with textiles secretary Rashmi Verma and other dignitaries. Courtesy: PIB

Apparel/Garments | On 19th Jan 2017

Ministry to reimburse apparel exporters for state levies

The textile ministry has received a sum of Rs 500 crore from the...

Interviews View All

Binoy Ravjani
Hero's Fashion

‘One of the recent trends in hand block printing is the indigo process,...

Karan Suratwala
Key Textile Accessories Private Limited

Chinese imports are destroying the supply chain

Abhimanyu Singh Rathore & Barbara Anna Kosiorek
Kannbar

‘Blending cultures is the true beauty of fashion, where one’s imagination...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
January 2017

January 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search