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TMI BlogSub: Amendments effective from 1.7.2017 to the All Industry Rates of Duty Drawback and other Drawback related changes.X X X X Extracts X X X X X X X X Extracts X X X X ..... All Industry Rates of Duty Drawback and other Drawback related changes. Attention of the Trade is invited to Board's Circular No. 22/2017- Customs issued vide F. No. 609/46/2017-DBK dated 30.06.2017. 2. Your attention is invited to Notification numbers 58/2017-Cus (N.T.) & 59/2017-Cus (N.T.), both dated 29.6.2017, which are effective from 1.7.2017. These notifications relate to changes in the pr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ions. During the transition period, exporters can also claim Brand rate of duty/tax incidence as they have been doing earlier. The conditions imposed for claiming these composite rates aim to ensure that the exporters do not claim composite AIRs of duty drawback and simultaneously avail input tax credit of Central Goods and Services Tax (CGST) or Integrated Goods and Services Tax (IGST) on the exp ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tax credit of CGST or IGST or refund of IGST paid on exports. (b) Changes in AIRs: Based on prevailing prices of inputs and export goods, budgetary changes, representations received and keeping in mind need for removing anomalies, certain changes have been made in AIRs. These interalia include - i. Para (17) of Notes and Conditions of Notification no. 131/2016-Cus (N.T.) dated 31.10.2016 has be ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Customs rates have been reduced for nickel and articles thereof covered under chapter 75. 4. Further, vide Notification no. 58/2017-Cus dated 29.6.2017, the work related to: (a) fixation of Brand rate of drawback has been transferred from Central Excise formations to Customs formations having jurisdiction over place of export. A separate circular is being issued to explain various related provi ..... X X X X Extracts X X X X X X X X Extracts X X X X
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