ISLAMABAD (January 11 2003) : The Central Board of Revenue (CBR) has given duty drawback facility to the exporters of knitted garments from January 9, 2003, says a notification issued on Friday.
This is for the first time the garments industry would enjoy the rebate facility on the export of two new items.
The repayment of duty would be 2.27 percent of the fob value on the export of dyed or printed blended knitted garments made of cotton, rayon or viscose and Lycra (47.5 percent cotton, 47.5 rayon or viscose and 5 percent lycra spandex) and 1.55 percent of the fob value on bleached blended knitted garments made of cotton, rayon or viscose and lycra (47.5 percent cotton, 47.5 percent rayon or viscose and 5 percent lycra spandex).
According to an amendment introduced in the SRO 412(I)/2001, the CBR has included a new schedule XXXIV after schedule XXXIII.
