TMI BlogRevision of All Industry Rates (AIRs) of Duty Drawback.X X X X Extracts X X X X X X X X Extracts X X X X ..... ome into force on 30th October, 2023. The notification may be downloaded from Board's website and carefully perused for details. 2. The salient features of the revised rates of Duty Drawback are as follows: (i) Each tariff item in the Schedule, annexed to the above-mentioned Notification, has been provided with an AIR specified under column (4) with cap of Duty Drawback amount, wherever applicable, given under column (5). For claiming these AIRs, the relevant tariff item has to be suffixed with letter 'B'. For example, for export of goods covered under tariff item (TI) 610901, the drawback serial number should be declared as 610901B; (ii) The Notification also specifies, in the Table annexed thereto, AIRs on export of i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... import intensity of inputs etc.; (v) New tariff items have been introduced in the Schedule pertaining to sectors, viz. sugar confectionary (2 items), chemicals (21 items), pharma (2 items), plastic (7 items), leather articles and footwear (8 items), cotton and manmade fibers/fabrics (4 items), apparels (1 item), footwear (1 item), article of stone (1 item), arms and ammunition (2 items) and furniture (4 items). Description of some of the existing tariff items have been revised for better product differentiation and for enabling tax neutralization for specific products. (vi) Appropriate caps of duty drawback amount have been provided wherever necessary to prescribe upper limit of duty drawback. (vii) `Schaeffers Acid' is curren ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... end of export valuation or drawback outgo in respect of goods where caps have been removed or increased as compared to the earlier caps. Any change in pattern should be immediately brought to notice of the Board. Commissioners may also inform, with appropriate data, the details of specific products where drawback cap needs to be reviewed or imposed. 6. Suitable public notice and standing order should be issued for guidance of the trade and officers. Any inconsistency, error or difficulty faced should be intimated at the earliest to the Board. Hindi version follows. Yours faithfully (Kapil Chaudhary) Joint Secretary (Drawback) - Circular - Trade Notice - Public Notice - Instructions - Office orders Tax Management Ind ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
