The Central Board of Indirect Taxes & Customs (CBIC) on May 07, 2024, issued the Amendments to the All Industry Rates of Duty Drawback effective from May 03, 2024.
The following amendments have been stated:
• The Representation from trade was received for the clarification of the unit of “counts" mentioned in Chapter 52 in respect of cotton yarn. In this context, a new Para (13A) is inserted in the Notes and conditions of the notification No. 77/2023-Customs (N.T.) dated 20.10.2023 clarifying that the term "counts" used in Chapter 52 shall mean "counts in New English (Ne)". It is also clarified that since the inception of the drawback schedules, the unit of counts was taken in "New English (Ne)", hence in all schedules of drawback notifications issued earlier, the counts were meant to be counted in New English (Ne) only.
• The Cap of Duty Drawback has been rationalized for "Golf Gloves made of leather in combination with textile materials" under TI 420304.
• Certain new tariff items have been created to allow better differentiation of export products viz. "Breaded shrimp/prawn" (TI 16050101), "Breaded Squids" (TI 16050501), "Sports gloves, other than Golf gloves, made of leather" (TI 420311) and "Sports gloves, other than Golf gloves, made of leather in combination with textile materials" (TI 420312).
[Notification No 04/2024-Customs]
