Home / Knowledge / News / Textiles / New drawback rates positive & growth oriented: TEXPROCIL
New drawback rates positive & growth oriented: TEXPROCIL
21
Nov '14
Chairman of the Cotton Textiles Export Promotion Council (TEXPROCIL) has welcomed the enhancement of duty drawback rates on textiles, by calling them positive and growth oriented.

The government had earlier announced the new rates of duty drawback for fiscal year 2014-15, which become effective from November 22, 2014.

“The new drawback rates are positive & growth oriented and overall the rates for cotton textiles and the value caps have been increased,” said RK Dalmia, chairman at TEXPROCIL.

He added, “The new draw back schedule has incorporated the additional categories of products such as flame retardant fabrics, cotton yarns below and above counts 50, Lycra yarn as requested by TEXPROCIL.”

Dalmia complimented the department for recognizing the growing importance of Lycra based yarns and fabrics which now constitute about 25 per cent of the world trade in textiles.

“However, the rates for Lycra based products should have been increased by at least 1 per cent and not 0.1 per cent in order to offset the high import duty on Lycra,” he noted.

TEXPROCIL will be submitting revised calculation in this regard for further increase in the drawback rates & value caps for Lycra based products and hopes for a consideration.

According to TEXPROCIL, the notification has also mentioned that there is a need for continued scrutiny for preventing any excess drawback arising from mismatch of declarations made in the item details and the drawback details on the shipping bills.

Dalmia urged that this clause should be used judiciously by the customs department to avoid unnecessary harassment & inconvenience to the exporters operating under the drawback scheme. (AR)

Fibre2fashion News Desk - India


Must ReadView All

Pic: Shutterstock

Textiles | On 2nd Jul 2020

USMCA enters into force Jul 1; AAFA, USCM welcome start

Though the United States-Mexico-Canada Agreement (USMCA) went into...

Pic: Shutterstock

Fashion | On 2nd Jul 2020

British fashion group Arcadia to cut 500 jobs

British fashion group Arcadia, which owns brands like Topshop and...

Pic: Shutterstock

Apparel/Garments | On 2nd Jul 2020

California bill seeks to end garment sector piece-rate pay

The Garment Worker Protection Act passed the California senate in a...

Interviews View All

Karin Ekberg, Leadership & Sustainability

Karin Ekberg
Leadership & Sustainability

Sustainable models are beneficial for brands, retailers and manufacturers

Textile Industry, Head honchos

Textile Industry
Head honchos

Social media critical in regeneration of businesses

Pinkesh Jain, Everflow Petrofils Ltd

Pinkesh Jain
Everflow Petrofils Ltd

‘An innovative technology which India needs desperately is the...

Harsh Shah,

Harsh Shah

Established in 1956 with a small beginning, Embee today manufactures a...

Henk-Jan Rohaan,

Henk-Jan Rohaan

The custom-built machineries of Brugman Holland are known for reliability, ...

Harsh Shah,

Harsh Shah

Fynd is the central online shopping destination for fashion, offering...

Mark Brill, Birmingham City University (BCU)

Mark Brill
Birmingham City University (BCU)

<div>A technological breakthrough could see people getting messages about...

Dr. Rene Wollert, Freudenberg Nonwovens

Dr. Rene Wollert
Freudenberg Nonwovens

Dr. Rene Wollert discusses the current scenario of the global nonwovens...

Marcel Alberts, Eurofibers

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Seema Agrawal, Artisan Saga

Seema Agrawal
Artisan Saga

Artisan Saga, founded by Kaushik Rajani and Seema Agrawal, is an online...

Rupa Sood and Sharan Apparao, Nayaab

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Ruma Devi, Gramin Vikas Evam Chetna Sansthan

Ruma Devi
Gramin Vikas Evam Chetna Sansthan

Ruma Devi is a jet-setting promoter of artisans who has empowered...

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

Leave your Comments


July 2020

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


Advanced Search