Home / Knowledge / News / Textiles / Govt hikes duty drawback rates for some items
Govt hikes duty drawback rates for some items
12
Feb '16
The Central Government has modified duty drawback structure by increasing rates or caps on some products like leather items, steel tanks and also added new classification for several items including cotton yarn mixed with MMF with effect from 11 February.

"The government considered representations, feedback and data related to the All Industry Rates (AIR) of Duty Drawback that took effect on November 23, 2015 and has notified certain changes...," a Central Board of Excise and Customs (CBEC) notification said on Tuesday.
Duty drawback is refund of duties on imported inputs for export items.

As per the notification, drawback rates/caps have been increased for fishing nets and sports nets.

Drawback caps have also been increased for leather articles, leather footwear, steel tanks, cans and tractors. Caps have also been raised for certain carpets made of wool, silk and other fabrics.

The notification also said in respect of certain items of stainless or alloy steels, the caps have been adjusted.

Drawback caps are imposed on several export products with an aim to obviate the possibility of misuse by over invoicing of the export value.

Descriptions of some tariff items have been amended to include certain products, like notebooks, dresses, skirts and undivided skirts.
New entries in the Drawback Schedule have been created for cotton yarns mixed with MMF – both grey and dyed. The Cotton Textiles Export Promotion Council (Texprocil) has welcomed the Government decision.

“I am glad the Government has accepted our proposal for a separate entry for cotton yarn mixed with MMF,” R.K. Dalmia, Chairman of Texprocil said in a press release.

The Govt has also increased the Drawback caps in the case of certain MMF fabrics. Dalmia appreciated the Government for considering the feedbacks on the Drawback rates and anomalies that have arisen under the Drawback Schedule and addressing them.

However, Dalmia pointed out that in the product coverage there are some clarifications needed with regard to the classification of some high valued items like “Boiler Suits” and “Protective wear” made of blend containing cotton and manmade fibres” which are technical textiles products for which the market is growing. (SH)

Fibre2Fashion News Desk – India

Must ReadView All

Textiles | On 17th Jan 2017

GST rollout from July 1; states to control small taxpayers

The Centre and states have reached a consensus on the issue of dual...

Textiles | On 17th Jan 2017

Reliance Industries net increases 3.6% in Q3FY17

In the three months ended December 31, 2016, India’s biggest private...

Textiles | On 17th Jan 2017

IMF projects advanced economies to grow at 1.9% in 2017

Advanced economies are projected to grow by 1.9 per cent in 2017 and...

Interviews View All

Awen Delaval
Samatoa

'Natural fibres are appreciated for traditional authenticity'

Pratik Bachkaniwala
Palod Himson Machines

Fabric processing machines are picking up

Sanjay Desai & Ashish Mulani
True Colors

Digital textile printing will be the technology of the future

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

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