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CHEMEXCIL
Basic Chemicals, Cosmetics & Dyes Export Promotion Council
(Set-up by Ministry of Commerce and Industry, Govt of India)
Jhansi Castle, 4th floor, 7-Cooperage Road, Mumbai - 400 001.
Tel : 91-22-22021288, 22021330 Fax : 91-22-22026684.
E-mail: info@chemexcil.in
Website: http://www.chemexcil.in
EPC:LIC:CBIC:AIR-2023-24 3rd November 2023
TO,
ALL MEMBERS OF THE COUNCIL
CBIC : Revision in all Industry Duty Drawback rates w.e.f. 30th October 2023.
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Dear Sir/Madam,
Central Board of Indirect taxes, Department of Revenue Ministry of finance has issued notification no 77/2023-custom (N.T.) dated 20th October 2023 notifying the amdendment in previously notified All Industry Rate Duty Drawback.
Following are the important points to note:
1. The tariff items and descriptions of goods in the said Schedule are aligned with the tariff items and descriptions of goods in the First Schedule to the Customs Tariff Act, 1975 (51 of 1975) at the four-digit level only. The descriptions of goods given at the six digit or eight digits in the said Schedule are in several cases not aligned with the descriptions of goods given in the First Schedule to the Customs Tariff Act, 1975
2.The figures shown in column (4) in the said Schedule refer to the rate of drawback expressed as a percentage of the free on board value or the rate per unit quantity of the export goods, as the case may be.
3. The figures shown in column (5) in the said Schedule refer to the maximum amount of drawback that can be availed of per unit specified in column (3).
4. Drawback at the rates specified in the said Schedule shall be applicable only if the procedural requirements for claiming drawback as specified in rule 12, 13 and 14 of the said rules, unless otherwise relaxed by the competent authority, are satisfied.
5. The Notification and rates will come into force on 30th October 2023.
Members can refer this Notification on below link
https://taxinformation.cbic.gov.in/view-pdf/1009920/ENG/Notifications
Feedback if any can be shared on dg@chemexcil.in with copy to pw@chemexcil.in
Thanks and regards
Raghuveer Kini
Director General
CHEMEXCIL
Encl : CBIC Air Amendments 20.10.23
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