Drawback facility accorded for viscose fibre

ISLAMABAD (December 04 2002) : Adding 'modal viscose staple fibre' in the list, the Central Board of Revenue (CBR) has allowed duty drawback on the export of viscose staple fibres from December 2, 2002.

The extent of repayment of duty ranges between Rs 0.91 per kilogram and Rs 6.09 per kilogram, depending on the type of the raw materials used in the finished product.

The textile sector was persistently demanding of the custom authorities to permit repayment of custom duty on the import of raw materials used in producing viscose staple fibre. This item was initially locally manufactured to meet the domestic demand but later on it was exported to many countries.

As a good gesture, the CBR has notified the decision to the textile units before Eid-ul-Fitr.

The Custom Wing has included a new Schedule after Schedule XXXI in the standard SRO.412(I)/2001 through an SRO.871(I)/2002 issued on Tuesday.

Following raw materials are used by the exporters in production of these products; modal fibre yarn (made from 100 percent modal fibre), modal fibre yarn (made from 65 percent modal and 35 percent cotton), modal fibre yarn (made from 50 percent modal and 50 percent cotton), modal fibre yarn (made from 30 percent modal and 70 percent cotton) and modal fibre yarn (made from 85 percent modal and 15 percent cotton).

The exporters are required to fulfil requisite conditions specified in the SRO.412 for availing rebate facility.

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