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Leather & footwear sector reaps gains in foreign trade policy

28 Aug '09
4 min read

This duty credit scrip can be used for import of capital goods by these status holders. The imported capital goods shall be subject to actual user condition.

Incentives for Leather and Footwear sector:
Duty free import entitlement of specified items is 3% of FOB value of exports of leather garments during preceding financial year, duty free entitlement for import of trimmings, embellishments and footwear components for footwear (leather as well as synthetic), gloves, travel bags and handbags is 3% of FOB value of exports of previous financial year.

Such entitlement shall also cover packing material, such as printed and non-printed shoe boxes, small cartons made of wood, tin or plastic materials for packing footwear and machinery and equipment for Effluent Treatment Plants shall be exempt from basic customs duty.

Re-export of unsuitable imported materials such as raw hides & skins and wet blue leathers is permitted, CVD is exempted on lining and interlining material notified at S.No 168 of Customs Notification No 21/2002 dated 01.03.2002.

CVD is exempted on raw, tanned and dressed fur skins falling under Chapter 43 of ITC (HS), Re-export of unsold hides, skins and semi finished leather shall be allowed from Public Bonded warehouse at 50% of the applicable export duty.

Fibre2fashion News Desk - India

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