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Govt makes changes in Customs & Drawback duty rates

03
Jan '09
As part of the stimulus package announced, the following changes in Customs and Additional Customs duty rates, and drawback have been carried out:-

The drawback schedule for the financial year 2008-09 was notified with effect from 1st September, 2008. Thereafter, the Government has received several representations from exporters seeking revision in these rates, which have been examined by the Drawback Committee headed by Dr Saumitra Chaudhury, Member, Economic Advisory Council to P.M. Based on these recommendations, the following changes are being carried out in the drawback schedule:

The drawback rates have been enhanced in respect of the following items:
a. On cotton knitted fabrics, from 4.5% to 5%;

b. On man-made knitted fabrics, from 8.7% to 8.9%;

c. On woollen knitted fabrics, from 5.7% to 5.8%; and

d. On agricultural/horticultural/forestry hand tools, from 8.5% to 10% (with a cap of Rs7.5 per kg).

The Value cap has been enhanced in respect of the following items:

a. Cotton yarn, grey from Rs8.00 per kg to Rs12.00 per kg;

b. Complete bicycles from Rs203 per piece to Rs240 per piece; and

c. Stainless steel cutlery and knives from Rs23.50 per kg and Rs19.80 per kg respectively to Rs28.00 per kg.

In the case of texturised/twisted yarn of Polyester manufactured from partially oriented yarn (POY), on which terminal excise duty has been paid, the drawback rates are being revised to include the central excise portion.

All the above changes in drawback are being implemented with effect from 1st September, 2008. Drawback will henceforth be also allowed on boots/half boots/shoes of leather cum synthetic/textile materials at 10.5% subject to a value cap of Rs110 per pair.

Press Information Bureau


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