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of <h1>India Amends Foreign Trade Policy: New Rules for Deemed Export Drawback Claims in Chapter 7 Effective December 2017.</h1> The Central Government of India has amended Chapter 7 of the Foreign Trade Policy 2015-20, effective from December 5, 2017. The amendment modifies the provisions for deemed export drawback. Under the revised rules, the refund of drawback for inputs used in manufacturing and supply can be claimed at the 'All Industry Rate' of Duty Drawback Schedule, as notified by the Department of Revenue, provided no CENVAT credit is availed. Alternatively, it can be claimed on a 'Brand Rate Basis' with evidence of actual payment of basic customs duties. This change allows refunds at the All Industry Rate for duty paid on inputs.
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