New AI Rates of Drawback Effective 2/9/98- Highlightsand Instructions

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....ed the new All Industry Rates of Drawback effective from 2.9.98 vide Notification No. 67/98 dated 1.9.98. A copy of the Press Note issued is enclosed1 highlighting the important changes made in the Drawback Table. (1) A cap/ maximum limit has been imposed on products having rate above 10%. (2) As the manufacturer-exporters are only entitled to 95% of Modvat credit, a provision has been made to....

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....om exporters Council. (5) The All Industry Rates of Drawback in the case of exports of garments from EOU/ EPZ units are being restored which were earlier deleted during review in Sept., 97. (6) In order to ensure smooth and accurate processing or drawback claims in the EDI System each rate has been assigned a separate Serial/ Sub serial number. Commissioners are requested to closely monitor t....