The Central Board of Revenue has restored duty drawback of Rs 25.08/t on export of cement. The board on Thursday amended Schedule XIX of SRO 840(I)/2006 through a notification to implement the decision.
The Economic Co-ordination Committee (ECC) of the Cabinet considered the summary submitted by the Ministry of Industries and Production on "Cement Industry situation/prices" and decided to restore exemptions on federal excise duty (FED), sales tax and duty drawback on exported cement; while other related decisions earlier taken by the government will remain intact.
The CBR has accordingly restored the previous duty drawback rate on export of cement. The board has also restored rebate of federal excise duty (FED) and refund of sales tax on the export of cement via land, air or sea route from November 1, 2006.