The Duty Drawback rates for cotton knitwear garments has been reduced from 8.8% to 7.5% and the value cap has also been reduced for knitwear garments, effective from today (20th September 2010).
In a press release issued, Shri.A.Sakthivel, President of Tirupur Exporters' Association (TEA) said he has sent a representation to Shri.Pranab Mukherjee, Hon'ble Union Minister of Finance on 18th September 2010 requesting to increase the duty drawback rate for knitwear products to 10%, in view of the host of factors affecting the knitwear export sector.
Shri.Sakthivel added that he has also sent a letter to Hon'ble Union Minister of Textiles, Thiru. Dayanidhi Maran with a requisition to take up the matter with the Ministry of Finance for increasing Duty Drawback rates to 10%.
The copies of the letter were also sent to Shri.Sunil Mitra, I.A.S., Secretary (Revenue), Ministry of Finance and Shri Najib Shah,I.R.S., Joint Secretary (Drawback), Central Board of Excise and Customs, Smt.Rita Menon, I.A.S., Secretary Textiles and Shri.V.Srinivas, I.A.S., Joint Secretary, (Exports), Ministry of Textiles to do the needful.
Tirupur Exporters' Association (TEA)
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