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India to cover 1,100 export items under duty drawback scheme

Sep 18, 2011 2:30:55 PM - www.ft.lk

Reuters: India will give incentives to exporters under duty drawback scheme, which will cover 1,100 items, R.S. Gujral, finance secretary, told reporters on Friday.

Duty drawback is the refund of customs duties and fees paid on imported merchandise.
However, the government will end a tax break under the Duty Entitlement Pass Book (DEPB) for exporters with effect from Sept. 30, Gujral said.
Under the Duty Entitlement Pass Book (DEPB) scheme, the government used to reimburse exporters for some 80 billion rupees of taxes paid on imported supplies.

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