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Government scraps the duty draw back on cotton yarn export

Written By Views maker on May 07, 2010 | 5/07/2010

The Indian Department of Revenue, Ministry of Finance has issued a notification No.34/2010-Customs (NT) dated 29 April 2010 removing the 4% Duty Drawback Rate available for cotton yarn.

This action  by the way can to a level bring down the yarn exports but we don't see much change in the price from now due this slash in duty draw back, as long as there is an big demand in the international market the yarn exports shall continue, the major control should be brought in the cotton exports. Dated:07 April 2010

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