Indian government revision of all industry drawback rates
14/07/2006
Media reports indicate that the Indian finance ministry has published the revised all-industry drawback rates, which came into effect July 15.
The new drawback rate for finished leather is 6.6% with a cap of Rs7 ($0.15) per sq. ft. compared with the existing rate of 6.3% with a cap of Rs5 per sq. ft. The new drawback rate for leather footwear for adults is 9.5% with a cap of Rs85 per pair compared with the existing rate of 8.3% with a cap of Rs70 per pair. The rate for leather apparel is 9.5% with a cap of Rs533 per piece compared with the existing rate of 7.5% with a cap of Rs400 per piece. The drawback rates on other leather items such as suitcases, handbags and gloves have also been revised upwards.
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