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The Apparel Export Promotion Council has hailed the Government’s decision on rationalising the duty drawback rates and expanding the list of items under the tax refund scheme for exporters.
Terming it as a timely move, AEPC Chairman A. Sakthivel said that this critical incentive is the need of the hour because of the sector’s value-added imports.
Coming at a time when the rupee devaluation is significant, this announcement will boost shipments from India while meeting the sector’s import component needs to a great extent.
The revised All Industry Rates of duty drawback, which have been notified, will come into effect from September 21.
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