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of <h1>India Updates Duty Drawback Rates: New Customs Notification No. 110/2015 Effective November 23, 2015.</h1> The Government of India, through the Ministry of Finance, issued Notification No. 110/2015-CUSTOMS (N.T.) on November 16, 2015, detailing the All Industry Rates (AIR) of Duty Drawback effective from November 23, 2015. This notification, under the Customs Act, 1962, Central Excise Act, 1944, and Finance Act, 1994, supersedes the previous notification No. 110/2014. It specifies the rates of duty drawback for various goods, aligning with the Customs Tariff Act, 1975, and includes conditions for classification, rates, and procedural requirements for claiming drawbacks. The notification also outlines exceptions and specific conditions under which the drawback rates apply.
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