Date:13/03/2008 URL: http://www.thehindu.com/2008/03/13/stories/2008031356251700.htm

Business - Briefly

New duty drawback system from April 1

NEW DELHI: The Finance Ministry on Wednesday proposed to introduce a new system to monitor the reimbursement of taxes under the Duty Drawback Scheme with effect from April 1. While inviting public comments, the Ministry proposed that under the new system, notices will be issued by the Customs to recover drawback paid on export consignments in respect of which export proceeds have not been realised.