Duty Drawback reform updates caps, Modvat compensation and EDI identifiers to streamline export drawback processing. New All Industry Rates of Drawback impose a cap on previously high rates, adjust the Central Excise component to compensate the unrecovered portion of input tax where Modvat is claimed, assign unique serial identifiers for EDI processing, waive Modvat non-availment certificates for exports unconditionally exempt from Central Excise, consolidate handloom made-up rates, and reinstate drawback rates for garments from EOU/EPZ units while directing field publicity and compliance with revised Rules.
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Duty Drawback reform updates caps, Modvat compensation and EDI identifiers to streamline export drawback processing.
New All Industry Rates of Drawback impose a cap on previously high rates, adjust the Central Excise component to compensate the unrecovered portion of input tax where Modvat is claimed, assign unique serial identifiers for EDI processing, waive Modvat non-availment certificates for exports unconditionally exempt from Central Excise, consolidate handloom made-up rates, and reinstate drawback rates for garments from EOU/EPZ units while directing field publicity and compliance with revised Rules.
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