The duty drawback
rates of the engineering will be reviewed covering all inputs including fuel oil while calculating these rates.
6) To this rate of duty drawback
, one can add the effect of higher concessional export finance obtained through export overinvoicing, and that of rebate earned on account of income tax.
The duty drawback
scheme is a refund of the customs or excise duty paid by an exporter on inputs used for manufacturing the finished goods that he has exported.
3 percent duty drawback
on export of finished leather in order to compete India, China and Bangladesh.
It said there was evidence that "organised criminal activity" was behind a rise in duty drawback
claims--a scheme that allows traders to claim back duty on alcohol on the basis it is being sent abroad.
The Central Board of Revenue (CBR) has extended the compensatory duty drawback
on the export of blended fabrics, garments and blended yarn from June 30, 2003 to June 30, 2004.
The purchase strengthened OL&T's customs broker and duty drawback
The government rationalised the duty drawback
and brought more items under the scheme for tax refund to exporters to give a boost to overseas shipments.
Recently, the computer network of the department of customs was hacked to siphon off official funds meant for export incentives under the duty drawback
Fraudsters can more easily claim duty drawback
on alcohol that they claim to be exporting by storing it in 'warehouses for export'.
But we do have concerns about the agreement, mainly dealing with these areas: rules of origin, manmade fibers, the tariff phase-out, non-tariff barriers, the duty drawback
, subsidies, antidumping, countervailing duties, dispute settlement and resolution, intellectual property rights and foreign investment.
7 million of charges associated with sponge plant asset impairment, goodwill impairment and duty drawback
We have already expedited the process of duty drawback
and have paid Rs 112 million more compared to the last year in Sialkot Collectorate alone.
In a SOS sent to Prime Minister, Nawaz Sharif, Finance Minister, Ishaque Dar and Minister of Commerce, Khurram Dastagir, Acting Chairman PRGMEA, Amir Amin Kothawala appealed to look into this serious matter and order to release exporters money which has been held up by the ministry of finance for the last several years and has now reached to Rs40 billion against refund claims of Duty Drawback
of Local Taxes & Levies (DLTL, Sales Tax and with the Customs.
The lack of strong rule of origin provisions as well as duty drawback
will directly and adversely impact USW members in a number of industrial sectors.