NEW DELHI: The Central Government on Thursday decided to extend the full rate of duty refunds including excise to merchant exporters who purchased goods from the local markets for overseas shipments.
The Central Board of Excise and Customs (CBEC) said in a circular that the exporters seeking full duty drawback would have to submit the proof with the customs authorities that they had procured goods from the local markets.
The decision has been taken on the basis of the recommendations of the Drawback Committee, the CBEC circular added.
Exporters see the CBEC decision as a facilitating measure at a time when they face erosion in demand for Indian products abroad.
Source : The Hindu