To fix duty drawback rates for 2012-13, Pharmexcil seeks drawback data

HYDERABAD: Pharmaceutical exporters have been asked to submit drawback data by Pharmaceutical Export Promotion Council of India (Pharmexcil), in a bid to fix the duty drawback rates for their products/services for the year 2012-13.

Central revenue department has initiated the exercise for fixation of All Industry Rates (AIR). Those interested in getting the rates of Duty Drawback for their products revised are required to submit the data at the earliest.

Director General, Pharmexcil, Dr P V Appaji, stated, “During the meeting the Committee had requested Pharmexcil to submit list of products not specifically covered under the Duty Drawback Schedule and which then fall under "Others" category of bulk drugs and formulations falling under Chapters 29 and 30 and thus attract drawback rates of one per cent and two per cent respectively. In addition, the Drawback Committee also sought any modifications required as regards description of Export Products appearing in the Schedule so as to widen the scope of applicability to the same export product having different pack size and strengths.”