Full duty refund to exporters
NEW DELHI: The government decided to extend 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 will have to submit the proof with the customs authorities that they have procured goods from the local markets. The decision has been taken on the basis of the recommendations of the Drawback Committee. Exporters see the decision as a facilitating measure at a time when they face erosion in demand for Indian products abroad.