All Industry rates of Duty Drawback 2016-17 announced

The new All Industry Rate of Duty Drawback for 2016-17 to be made effective from 15th November 2016 for various export products including handicrafts have been announced by the Department of the Revenue, Government of India.

As per the Department of Revenue, the rates for Glass artware, Papier Machie, Lace and Lace goods and Stone Artware have been increased marginally, however, for the remaining handicraft items the rates have been marginally decreased on percentage basis or kept the same as last year.

A new entry i.e Glass Artware / Handicrafts with glass chatons (702005) has been added in the drawback schedule

The duty drawback rates have been found to be satisfactory, however the exporters were expecting higher rates in metal ware items, said Mr. Rakesh Kumar, Executive Director EPCH

He further said it is an important benefit given to the Handicrafts exporters, the exports are picking up and such an incentive at this juncture would certainly boost the morale of the handicrafts exporters, however some more could have been done to lift the spirits of the exporters.