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of <h1>India Revises Duty Drawback Rates: New Tariff Items, Increased Rates for Marine and Textiles, Effective February 4, 2020.</h1> The Government of India has revised the All Industry Rates (AIRs) of Duty Drawback, effective from February 4, 2020, as per Notification No. 07/2020-Customs. Key changes include specifying AIRs for each tariff item with specific suffixes for different schemes, increasing AIRs for certain products like marine and textile goods, rationalizing rates for others, and introducing 31 new tariff items. Caps on duty drawback amounts have been adjusted or removed for specific items. Commissioners are instructed to ensure compliance and prevent misuse, with a focus on scrutinizing shipping bills and monitoring export valuation trends. Public notices and standing orders are to be issued for guidance.
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