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Effects of rupee appreciation on textile industry
01 May '08
3 min read
(iv) Duty drawback rates enhanced by 10-40% of the existing rates.
(v) Subvention on credit rate allowed upto 4% including interest subsidy of 2%.
(vi) Refund of service tax paid by exporters on services linked to export of goods viz port services for exports, transport of goods by road from container depot to port of export, general insurance services for insurance of goods for export, technical testing and analysis agency services and inspection and certification services, storage & warehousing services and clearing activity services.
(vii) Customs duty on intermediates for Polyester staple fibre and polyester filament yarn reduced from 7.5% to 5%.
(viii)Customs duty on paraxylene, a raw material for the intermediate PTA reduced from 2% to 0%.
(ix) Customs duty reduced on other man-made filament yarn & staple fibres of acrylic & viscose from 10% to 5%.
(x) Customs duty reduced on spun yarn of man-made staple fibres & filament yarn (other than nylon) from 10% to 5%.
(xi) Customs duty reduced on polyester chips from 7.5% to 5%.
This information was given by the Minister of State for Textiles, Shri E.V.K.S. Elangovan in a written reply in the Rajya Sabha.
(v) Subvention on credit rate allowed upto 4% including interest subsidy of 2%.
(vi) Refund of service tax paid by exporters on services linked to export of goods viz port services for exports, transport of goods by road from container depot to port of export, general insurance services for insurance of goods for export, technical testing and analysis agency services and inspection and certification services, storage & warehousing services and clearing activity services.
(vii) Customs duty on intermediates for Polyester staple fibre and polyester filament yarn reduced from 7.5% to 5%.
(viii)Customs duty on paraxylene, a raw material for the intermediate PTA reduced from 2% to 0%.
(ix) Customs duty reduced on other man-made filament yarn & staple fibres of acrylic & viscose from 10% to 5%.
(x) Customs duty reduced on spun yarn of man-made staple fibres & filament yarn (other than nylon) from 10% to 5%.
(xi) Customs duty reduced on polyester chips from 7.5% to 5%.
This information was given by the Minister of State for Textiles, Shri E.V.K.S. Elangovan in a written reply in the Rajya Sabha.
Press Information Bureau Government of India
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