September 17, 2013 6:11 PM

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AEPC: Recent hike in duty drawback rates to help boost garment sector's exports

Apparel Export Promotion Council, AEPC, has said the recent hike in duty drawback rates by the government would help boost the garment sector's exports. Describing it as a critical incentive, AEPC Chairman A Sakthivel in a statement said the move would give a boost to overseas shipments . He said that the sector imports large quantities of raw material to make items for export purposes.Last week, the Finance Ministry rationalised the duty drawback and brought more items under the scheme for tax refund to exporters to give a boost to overseas shipments.The revised All Industry Rates of duty drawback will come into effect from September 21.

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