In the announcement, there is a marginal increase for several items of textiles and clothing products in the duty drawback rates PUNE: The Ministry of Commerce and Industry has increased duty increased from 1.2% to 1.7% for cotton yarn, from 1.3% to 1.6% for cotton fabric and from 2% to 2.6% … Export Benefits. 4th February 2020, vide Notification No. Changes in tariff rate of All Industry Rates of Duty Drawback . (iv) Rationalization of rates for some readymade garments (Chapters 61 & 62), articles of stones (Chapter 68), in iron and steel sector (Chapter 72, 73, 84 and articles in different Chapters) and for bicycles single speed with or without accessory (TI 871201) have been done on account of various reasons viz. Your Reason has been Reported to the admin. 28 January 2020, in respect of specified exports and subject to compliance with the procedural requirements/ amendments notified from … On marginal decrease in the duty drawback rates of apparel items, Nataraj said that considering the continuous fall in garment exports, the industry was hoping for increase in drawback rates. Outstanding Advantages of Card C 72 - RIETER | Know More, Sri Lanka's Hela, Indonesian firm form JV in Ethiopia, JD Sports in UK acquires menswear retailer Wellgosh, Cotton yarn shortage hits Pak value-added textile exports, Become a Contributor - Submit Your Article. Duty drawback rates have been raised by up to 70 per cent across all varieties of textile value chains I think the present new rates are unacceptable and the ministry of textiles should immediately consider AEPC’s recommendation for extending the current transition rates till March 31, 2018, to instil confidence in the sector and also ensure a smooth transition into GST and also for sustaining employment in the sector. The announcement made through ministry of finance’s Notification No. Aditya Birla Sun Life Tax Relief 96 Direct-Growt.. The industry was expecting continuation of the present drawback rates till such time as these consultations could be completed and proper measures taken to ensure that exports remain zero rated and no taxes are exported, AEPC said. The duty draw back rate on garments of blend containing cotton and man-made fibre (MMF) will be 2.50 per cent beginning next month compared to the existing 9.5 per cent. Dear Member, We are glad to inform you that the much awaited All Industry Rates of Duty Drawback for 2018-19 have been announced by the Government vide Notification No.95/2018-Customs (N.T. Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on. Choose your reason below and click on the Report button. As per Circular No. “The apparel industry needs to book orders in advance for the next season. Decrease in duty drawback rates on garments might impact exports negatively, says SIMA, PUNE: The Ministry of Commerce and Industry has increased duty increased from 1.2% to 1.7% for. 209(I)/2009 Dt:05-03-2009 Rate of Duty Drawback available was 0.15% if they wanted refund of IGST or Inputs GST. CLE-HO/POL/DBK/16-17 November 3, 2016. The hype around 'designer jeans' was created by him. However, due to the steep drop in the drawback support over 7000 small and medium enterprises in the apparel export sector will be crippled, creating an adverse impact on the employment being provided to over 12 million people by this sector, AEPC said in a press release. Duty Drawback Rates w.e.f. Clothing items (under HS codes 61 and 62) made of silk (other than containing Noil silk) will be subject to a rate of 4.80 per cent as compared to the earlier 7.6 per cent. Read more about Revised duty drawback rate to hurt Tirupur's knitwear exporters on Business Standard. AG Jeans. The duty drawback rate was usually announced in September or October, but it was not this year and the government has been delaying … Read more about Duty drawback rate increase to boost textile exports from India on Business Standard.
Schlegel und Partner is the market research and consultancy company... Marten Alkhagen duty drawback at general rate or he may opt to claim duty drawback at a higher rate (composite rate) without availing CENVAT credit. ), dated 6 th December, 2018. 04.02.2020: Basic Guidance on How to Export. The revised All Industry Rates of duty drawback will come into effect from September 21. 15 As per the new schedule, Apparel Export Promotion Council (AEPC) said the refund rates for garments will come down to 2 per cent as compared to the 7.7 per cent drawback available till now. The rate on blended apparels containing cotton and man-made fibres will be 2.50 per cent as against 9.5 per cent at present. The uncertainty prevailing for the last three months regarding the GST rates on apparel and job work have already cost the industry’s order books. India's garment exports grew by 19 per cent year-on-year to USD 1.27 billion in July. decrease in C. Ex. Days Trial According to members of industry, reduction in drawback rate is a death knell for Tirupur's garment … Here is the extract of notification: Garments Rebate SRO. No exporter would prefer to take benefit of 0.85% Duty Drawback against refund of IGST/ Input GST which was at … Head honchos, Industry could be looking at 10%-15% job losses, Luke Otten Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of... Adriano Goldschmied 7/2020 Customs (NT) dt. Get help in getting export orders, custom clearances during … Duty Drawback Rates of Knitted Or Crocheted Fabrics Of A Width Exceeding 30 Cm, Containing By Weight 5% Or More Of Elastomeric Yarn Or Rubber Thread, Other Than Those Of Heading 6001 6005 Duty Drawback Rates of Warp Knit Fabrics (including Those Made On Galloon Knitting Machines), Other Than Those Of Headings 6001 To 6004 ---- Of Cotton : Sneha Gilada The Central Board of Excise and Customs (CBEC) has called for inputs on duty drawback rates from Export Promotion Councils and other top-tier industry bodies. The new duty drawback rate for garments will be 2 per cent as compared to the current 7.7 per cent. The reduction in drawback rates on garments might have negative impact on exports.” – Nataraj, Chairman, The Southern India Mills Association (SIMA) On the other side, there is a marginal increase for several items of textiles and clothing products in the duty drawback rates. 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