Financial Daily from THE HINDU group of publications
Friday, Feb 17, 2006


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Upper-limit on drawback payments

K.R. Srivats

New Delhi , Feb 16

THE Finance Ministry has brought in a new rule that seeks to place an upper limit on the drawback amount payable by the Central Government to exporters.

The Central Board of Excise and Customs has now stipulated that the amount of drawback or the rate should not exceed one-third of the market price of the export product. The drawback scheme currently serves about 30 per cent of the country's exports, value-wise.

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