ISLAMABAD (February 21 2003) : The Central Board of Revenue (CBR) has made steep reduction of over 50 percent in the duty drawback rates on the export of 11 major textile products, including blended fabrics from February 18, 2003.
Sources said that the CBR would also slash duty drawback rates of other textile items in the coming days to revamp the duty structure.
The CBR officials claimed that All Pakistan Textile Mills Association (Aptma) has duly accepted the reduced rates, which were notified as a result of survey conducted by Input Output Coefficient Organisation (IOCO), Karachi.
The CBR has replaced Schedule IX of the standard SRO 412 (I)/2001 with the new schedule through SRO 179 (I)/2003 issued here Thursday.
The sources said that the textile exporters were enjoying extraordinary enhanced rates as compared to the existing duty structure under the Pakistan Customs Tariff (PCT) 2002-03.
However, the rates should be at par with the latest duty structure as per revised Pakistan Customs Tariff (PCT) 2002-03.
The Customs authorities have planned to revise duty drawback rates of entire textile industry, they added.
The duty drawback rates have been reduced from Rs 1.93 per kilogram to Rs 1.07 per kilogram on the export of grey blended fabrics made of viscose fibre and cotton fibre (applicable to all blends from 15 percent viscose fibre and 85 percent cotton to 25 percent viscose fibre and 75 percent cotton); Rs 3.37 per kilogram to Rs 1.73 per kilogram on grey blended fabrics made of viscose fibre and cotton fibre (applicable to all blends from 30 percent viscose fibre and 70 percent cotton to 45 percent viscose fibre and 55 percent cotton); Rs 5.11 per kilogram to Rs 2.39 per kilogram on grey blended fabrics made of viscose fibre and cotton fibre (applicable to all blends from 50 percent viscose fibre and 50 percent cotton to 60 percent viscose fibre and 40 percent cotton); Rs 6.79 to Rs 3.13 per kilogram on grey blended fabrics made of viscose fibre and cotton fibre (applicable to all blends from 65 percent viscose fibre and 35 percent cotton to 80 percent viscose fibre and 20 percent cotton); Rs 3.16 per kilogram to Rs 1.68 per kilogram on bleached blended fabrics made of viscose fibre and cotton fibre (applicable to all blends from 15 percent viscose fibre and 85 percent cotton to 25 percent viscose fibre and 75 percent cotton).
The duty drawback rates have also been reduced from Rs 4.66 per kilogram to Rs 2.34 per kilogram on bleached blended fabrics made of viscose fibre and cotton fibre (applicable to all blends from 30 percent viscose fibre and 70 percent cotton to 45 percent viscose fibre and 55 percent cotton); Rs 6.34 per kilogram to Rs 3 per kilogram on bleached blended fabrics made of viscose fibre and cotton fibre (applicable to all blends from 50 percent viscose fibre and 50 percent cotton to 60 percent viscose fibre and 40 percent cotton); Rs 8.85 per kilogram to Rs 3.74 per kilogram on bleached blended fabrics made of viscose fibre and cotton fibre (applicable to all blends from 65 percent viscose fibre and 35 percent cotton to 80 percent viscose fibre and 20 percent cotton); Rs 6.70 per kilogram to Rs 4.23 per kilogram on dyed or printed blended fabrics made of viscose fibre and cotton fibre (applicable to all blends from 15 percent viscose fibre and 85 percent cotton to 25 percent viscose fibre and 75 percent cotton); Rs 8.19 per kilogram to Rs 4.89 per kilogram on dyed or printed blended fabrics made of viscose fibre and cotton fibre (applicable to all blends from 30 percent viscose fibre and 70 percent cotton to 45 percent viscose fibre and 55 percent cotton); Rs 9.88 per kilogram to Rs 5.55 per kilogram on dyed or printed blended fabrics made of viscose fibre and cotton fibre (applicable to all blends from 50 percent viscose fibre and 50 percent cotton to 60 percent viscose fibre and 40 percent cotton) and duty drawback rates have been slashed from Rs 11.57 per kilogram to Rs 6.29 per kilogram on the export of dyed or printed blended fabrics made of viscose fibre and cotton fibre (applicable to all blends from 65 percent viscose fibre and 35 percent cotton to 80 percent viscose fibre and 20 percent cotton).
