The Central Board of Indirect Taxes and Customs (CBIC) on Wednesday, notified Amendments to the All Industry Rates of Duty Drawback effective from July 15, 2020.
All Industry Rates of Duty Drawback has been enhanced on certain footwear items and gold jewelry and rationalized for silver jewelry.
“Vinyl Sulphone Ester is currently classified for duty drawback purposes 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 remains unchanged. The existing entry for Vinyl Sulphone Ester (TI 292205) has been deleted,” the notification said.
Also, motor cars with AMT (Automated Manual Transmission) will be able to claim the same AIRs of duty drawback as given to motor cars with Manual Transmission (MT).
These changes in All Industry Rates shall be effective from July 15, 2020.Subscribe Taxscan AdFree to view the Judgment