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of <h1>India Sets Duty Drawback Rate for Furnace Oil at Rs. 925/MT for EOUs, EPZs, SEZs under Export Policy</h1> The Government of India, through the Ministry of Commerce and Industry, has issued Notification No. 10 (RE-2003) under the Export and Import Policy 2002-2007. It announces an All Industry Rate of Duty Drawback of Rs. 925 per metric ton for furnace oil supplied by domestic oil companies to Export Oriented Units (EOU), Export Processing Zones (EPZ), and Special Economic Zones (SEZ) under the deemed export scheme. This rate will apply until further notice, as stated in Chapter 8 of the EXIM Policy. The notification is issued in the public interest by the Director General of Foreign Trade.
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