Del. HC: Liquidated Damages Mentioned in Agreement Can’t be Awarded in Absence of Proof of Loss  ||  MP HC: S.375 Marital Sex Exemption Also Provides Exemption Under Section 377 of IPC  ||  SC: SARFAESI Doesn’t Give Any License to Bank Officers to Act Against the Scheme of Law  ||  All. HC: Court Can’t Mechanically Reject Application for Waiving Off Cooling Period u/s 13B of HMA  ||  Kar. HC: Acquittal Order Can’t be Put in Challenge by Stranger to the Case  ||  Kar. HC: Alternate Remedy Can’t be Used as China Wall Against Invocation of Writ Jurisdiction  ||  Bom. HC Upholds Constitutional Validity of Goa’s Green Cess Act  ||  Del. HC: Not Court’s Business to Demonstrate Morality of an Act unless it has Caused Harm  ||  Del. HC: Cost Accountants and Chartered Accountants Not Similarly Placed Under Law  ||  SC: No Party Ought to be Vexed Twice in a Litigation for One and the Same Cause    

Amendments to the All Industry Rates of Duty Drawback effective from 15.07.2020- (Ministry of Finance ) (15 Jul 2020)

MANU/CUCR/0032/2020

Customs

1. Government has made certain amendments in the All Industry Rates (AIRs) of Duty Drawback vide Notification No. 56/2020-Customs (N.T.) dated 13.07.2020. These changes are effective from 15.07.2020. The notification may be downloaded from www.cbic.gov.in and perused.

2. The changes made are briefly summed up as follows:

(a) AIRs/caps of Duty Drawback have been enhanced for the following items:

(i) Certain footwear items made of leather covered under Chapter 64; and

(ii) Gold jewellery covered under Chapter 71.

(b) AIRs of Duty Drawback have been rationalised for silver jewellery/articles covered under Chapter 71.

(c) Vinyl Sulphone Ester is currently classified for duty drawback purpose under Tariff Item (TI) 292205. In light of its proper classification under Customs Tariff Heading 2930, a separate entry for Vinyl Sulphone Ester is being inserted under TI 293001. The duty drawback rate and cap amount for the item remain unchanged. The existing entry for Vinyl Sulphone Ester (TI 292205) has been deleted.

(d) Description of TIs 870301, 870303, 870305 and 870307 pertaining to motor cars of various engine capacities with Manual Transmission (MT) has been changed. The amended description now includes motor cars with Automated Manual Transmission (AMT) in the respective tariff items. The change in description will allow motor cars with AMT to claim the same AIRs of duty drawback as given to motor cars with MT.

3. Suitable Public Notice/Standing Order should be issued for guidance of the trade/field formations. Difficulties faced, if any, in implementation of the changes may be brought to the notice of the Board.

Tags : AMENDMENTS   INDUSTRY RATES   DUTY DRAWBACK  

Share :        

Disclaimer | Copyright 2023 - All Rights Reserved