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Duty drawback rates on hosiery items reduced

ISLAMABAD (July 27 2004): The Central Board of Revenue (CBR) has reduced duty drawback rates on the export of hosiery articles, hand knotted woollen carpets, machine made carpets and all brands of handmade silk carpets from July 26, 2004.

The reduction has also been made on the export of canvas, tarpaulin, tents and fire retardant canvas cloth etc.

The duty drawback rates have been slashed on the export of various types of grey blended fabrics made of viscose fibre and cotton fibre.

The CBR has replaced schedule-IV and schedule-IX, schedule-XXII, schedule-XXIV, schedule-XXV and schedule-XXVI of the standard SRO.412(I)/2001 through SRO 641(I)/2004 issued on Monday.

The duty drawback on the export of hosiery articles has been reduced to 1.27 percent of the fob value.

The duty drawback on the export of hand knotted woollen new carpets, rugs and runners has been reduced to 0.33 percent of the fob value; machine made woollen new carpets, 0.57 percent of the fob value; hand knotted silk including wool carpets of all blends, 0.63 percent of the fob value and duty drawback on the export of wax coated cotton or polyester-cotton yarn, 0.03 percent of the fob value.

According to new schedule-XXII, the duty drawback has been reduced on the export of bleached or dyed waterproof or impregnated canvas, tarpaulins, tents, complete in CKD condition, waterproof or impregnated dyed bags, will be 1.12 percent of the fob value; unbleached or undyed waterproof or impregnated canvas, tarpaulins, tents, complete in CKD condition, with or without bamboos, kit bags and aprons made of waterproof or impregnated canvas, 0.88 percent of the fob value.

The CBR has made reduction in duty drawback rates on the export of other types of tents, canvas, tarpaulin including dyed waterproof or impregnated canvas, tarpaulin, tents complete or in CKD condition or waterproof or impregnated dyed bags made of blended yarn.

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