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All Industry Rates of Duty Drawback revised; new sectoral rates and eligibility rules for exporters claiming drawback. The Ministry revised the All Industry Rates of Duty Drawback, effective from the notification's commencement date, updating percentages and caps and adding new tariff entries. Rates were set using prevailing input prices, SION, import shares, applied duties, fuel duty incidence and service tax on input services; Commissioners must ensure exporters do not secure duplicate service tax refunds. Most sectoral rates and caps have been reduced, some increased, and where the all industry rate is Nil exporters may claim a brand rate under the Drawback Rules subject to conditions.
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All Industry Rates of Duty Drawback revised; new sectoral rates and eligibility rules for exporters claiming drawback.
The Ministry revised the All Industry Rates of Duty Drawback, effective from the notification's commencement date, updating percentages and caps and adding new tariff entries. Rates were set using prevailing input prices, SION, import shares, applied duties, fuel duty incidence and service tax on input services; Commissioners must ensure exporters do not secure duplicate service tax refunds. Most sectoral rates and caps have been reduced, some increased, and where the all industry rate is Nil exporters may claim a brand rate under the Drawback Rules subject to conditions.
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