New Delhi, Sept. 15
THE Federation of Indian Export Organisations (FIEO) has welcomed the recent upward revision of duty drawback rates in certain entries of leather goods, glass artware, brass and copper articles, handicraft of brass, textile floor coverings etc.
In a statement, the FIEO President, Mr O.P. Garg, also hailed the Revenue Department's move to increase the duty drawback cap for perfumed agarbathies from Rs 6.30 per kg to Rs 25 per kg. This is a big relief for exporters, he said.
While the drawback rates for glass artwares has been recently increased from 4 per cent to 8 per cent, the drawback rate for copper and brass articles have been upped from 9 to 11 per cent.