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Drawback norms eased for exporters
BS Economy Bureau in New Delhi |
March 07, 2003 13:04 IST
The government on Thursday simplified procedures for easier administration of the duty drawback scheme for exports. The step is in line with the Kelkar panel's recommendations.
From April the brand rates of drawback will be fixed by jurisdictional commissions of central excise in whose area the factory of the manufacturer or the supporting manufacturer is located.
Merchant exporters, who procure goods from an unregistered supporting manufacturer, will get duty drawback merely by filing a declaration that the Cenvat facility has not been availed by the manufacturer.
Also, exporters of composite articles will be allowed drawback simply by declaring the composition of various constituent materials.
Moreover, exporters, who apply for fixing brand rates, will be eligible to claim all industry brand rates and will get the remaining amount once their request is cleared.
"Duty drawback is a rebate of input stage duties of customs and central excise which renders the goods competitive in the international market. Hence duty drawback is an important export promotion measure contributing to the export-led growth of the economy and accretion of precious foreign exchange," the release said.