The Central Board of Indirect Taxes & Customs vide circular dated 15th July, 2020 has made certain amendments in the All Industry Rates (AIRs) of Duty Drawback effective immediately.
The changes made are briefly summed up as :
- AIRs/caps of Duty Drawback have been enhanced for footwear items and Gold jewelry.
- AIRs of Duty Drawback have been rationalized for silver jewelry/articles.
- Motor cars with AMT are allowed to claim the same AIRs of duty drawback as given to motor cars with MT.