Government raises duty refund rates on host of items

Q.  Government raised duty refund rates on which items on November 16, 2015?
- Published on 17 Nov 15

a. Iron
b. Steel
c. Garments
d. All of the above

ANSWER: All of the above
 
Government of India has raised duty refund rates on numerous items including iron, steel, garments and marine products to promote exports previously on a decline for 11 months. Central government has notified the Schedule of revised All Industry Rates of Duty Drawback effective from November 23, 2015, the Finance Ministry said. Duty drawback is refund of duties on imported inputs for export items.

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