Indian government revision of all industry drawback rates
17/07/2006
Media reports indicate that the Indian finance ministry has published the revised all-industry drawback rates, which will come into effect from July 15.
In the readymade garment sector, the new drawback rate for knitted cotton blouses/shirts/tops made from cotton is 6.7% with a cap of Rs29 (0.6%) per piece compared with the existing rate of 6% with a cap of Rs25 per piece. The new rate for knitted blouses/shirts/tops made from man-made fibres is 7.8% with a cap of Rs32 per piece compared with the existing rate of 7.5% with a cap of Rs30 per piece. For knitted blouses/shirts/tops made with a blend of cotton and man-made fibre blend, the new drawback rate is 7.2% with a cap of Rs30 per piece versus the existing rate of 6.8% with a cap of Rs28 per piece. The drawback rates on woven garments have been revised accordingly.
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