Govt hikes duty drawback rates on 102 items to boost exports
In a major relief to exporters, the government today raised duty drawback rates on 102 items which will make Indian exports more competitive in the global market.
As a step towards more efficient Input Tax Neutralization on exports, after considering various representations from the trade and industry, the government has enhanced the all industry rates of duty drawback for 102 tariff items, a finance ministry statement said.
The export items mainly include marine and seafood products, automobile tyres and bicycle tyres/tubes, leather and articles of leather, yarn and fabric of wool, glass handicrafts and bicycles, it said.
"It is a welcome move. This would provide some competitiveness to Indian exporters in global market," the Federation of Indian Export Organisations (FIEO) Director General Ajay Sahai told
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
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