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of <h1>Ministry of Finance Revises Duty Drawback Rates for 2007-08; Increases for Textiles, Leather, and Metal Products.</h1> The Ministry of Finance has revised the All India Duty Drawback Rates for 2007-08, effective from April 1, 2007. A committee, led by an Economic Advisory Council member, reviewed the rates based on input prices, standard norms, and duty incidence. The revised rates generally increase across various products, including textiles, leather, stainless steel, and brass items. For instance, the drawback rate for silk fabrics rose to 10.8% with a cap of Rs.325/kg, while cotton yarn rates increased to 5.4% with a cap of Rs.11/kg. The Customs department has also streamlined the electronic processing of drawback claims to expedite payments.
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