Finance Ministry announces all industry rates of duty drawback for 2016-17
The Dollar Business Bureau The Govt has revised the All Industry Rates (AIRs) of drawback via notification No.131/2016 Customs (N.T.) dated 31.10.2016 which comes into force on 15.11.2016. These AIRs consider various broad range parameters that include prices of inputs, input output norms, share of imports in input consumption, the rates of central excise and customs duties, incidence of service tax paid on taxable services which are used as input services in the manufacturing or processing of export goods, incidence of duty on HSD/furnace oil, value of export goods, etc. Some of the changes that the Finance Ministry has announced are given below: 1. AIRs have been provided to certain worked articles that come under chapters 45 (coke and articles of ...
