Regarding major changes in All Industry Rates (AIR) of Duty Drawback w.e.f. 22.11.2014

Posted Date : 18-Nov-2014 , 05:00:48 pm | Posted By CASANSAAR print

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The Ministry has notified revised All Industry Rates (AIR) of Duty Drawback vide Notification

No. 110/2014- Customs (N.T.), dated 17.11.2014. This notification comes into force on 22.11.2014.2. Some of the broad aspects, from amongst the changes notified with respect to AIR of duty drawback and entries in the Schedule, are the following –

(a) As before, the drawback rates have been determined on the basis of certain broad average parameters including, inter alia, prevailing prices of inputs, input output norms, share of importsin input consumption, the applied rates of central excise and customs duties, the factoring of incidence of service tax paid on taxable services which are used as input services in the manufacturing or processing of export goods, factoring incidence of duty on HSD/furnace oil, value of export goods, etc.

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