Duty Drawback All Industry Rates revised, altering residuary and ad valorem rates and introducing caps and new tariff entries. Revised All Industry Rates (AIR) of duty drawback effective 21.09.2013 recalibrate drawback entitlements using average input prices, input output norms, import content, applicable excise/customs duty incidence and service taxed input services. The notification converts certain specific rates to ad valorem, extends residuary AIRs to some previously nil items, reduces higher residuary bands, supplements many higher ad valorem rates with drawback caps, creates or amends tariff entries for classification clarity, and makes AIR on wheat nil. Pharmacopeia standards IP, BP, USP, EP and JP are interchangeable; commissioners must ensure compliance, prevent double recovery and monitor high value exports.
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Duty Drawback All Industry Rates revised, altering residuary and ad valorem rates and introducing caps and new tariff entries.
Revised All Industry Rates (AIR) of duty drawback effective 21.09.2013 recalibrate drawback entitlements using average input prices, input output norms, import content, applicable excise/customs duty incidence and service taxed input services. The notification converts certain specific rates to ad valorem, extends residuary AIRs to some previously nil items, reduces higher residuary bands, supplements many higher ad valorem rates with drawback caps, creates or amends tariff entries for classification clarity, and makes AIR on wheat nil. Pharmacopeia standards IP, BP, USP, EP and JP are interchangeable; commissioners must ensure compliance, prevent double recovery and monitor high value exports.
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