Moradabad, Mar 25, (KNN) A Finance Ministry appointed committee for redrawing the duty drawback rates for tax rebates on export items visited this city , famous for  handicrafts exports.  

The Committee, headed by Planning Commission Member Saumitra Chaudhuri,  visited  yesterday a few units manufacturing different types of handicrafts to understand and see the manufacturing process .

Duty drawback is the rebate taxes or duty paid for raw material used for manufacture of the  items meant for exports.  The committee will recommend to the Revenue Department in the Finance Ministry new drawback rates.   

The drawback committee visited three prominent factories in the city namely,  C L Gupta Exports Ltd.,  A TO Z Industries and  Interseas Traders.
The Export Promotion Council for Handicrafts (EPCH) had coordinated and organized the visit of the drawback committee to Moradabad.

Meanwhile EPCH is also preparing cost data required for fixation of drawback rates through experts employed by EPCH.  The cost sheet based on the data thus collected by expert of EPCH will be submitted and presented in due course before the drawback committee for their consideration. 

“The drawback committee was full of appreciation for the satisfactory and efficient working of the handicrafts units in the region of Moradabad.  On conclusion of the visit, the committee felt that the handicrafts sector is an employment generative sector and it should get the due it deserve,” said a press release from EPCH.
Duty drawback is the rebate taxes or duty paid for raw material used for manufacture of the  items meant for exports.  The committee will recommend to the Revenue Department in the Finance Ministry new drawback rates.   (KNN)