Govt announces revised rates of Duty Drawback for 2016-17

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SME Times News Bureau | 02 Nov, 2016
The new All Industry Rate of Duty Drawback for 2016-17 to be made effective from 15th November 2016 for various export products including handicrafts have been announced by the Department of the Revenue, Government of India.

"The Government considered representations, feedback and data related to the All Industry Rates (AIR) of Duty Drawback that took effect on 23.11.2015 and has notified certain changes vide Notification No. 22/2016-Customs (N.T.) dated 08.2.2016," said circular. These changes take effect from 11.02.2016. The notification should be downloaded from www.cbec.gov.in and perused.

As per the Department of Revenue, the rates for Glass artware, Papier Machie, Lace and Lace goods and Stone Artware have been increased marginally, however, for the remaining handicraft items the rates have been marginally decreased on percentage basis or kept the same as last year.

A new entry i.e Glass Artware / Handicrafts with glass chatons (702005) has been added in the drawback schedule, said apex handicraft exporters body, Export Promotion Council for Handicrafts (EPCH).

The duty drawback rates have been found to be satisfactory, however the exporters were expecting higher rates in metal ware items, said Rakesh Kumar, Executive Director EPCH.

He further said it is an important benefit given to the Handicrafts exporters, the exports are picking up and such an incentive at this juncture would certainly boost the morale of the handicrafts exporters, however some more could have been done to lift the spirits of the exporters.