Steel makers can claim duty drawback on supplies through distributors, dealers: DGFT

Steel manufacturers can avail duty drawback benefits on steel supplied through their service centres, distributors, dealers and stock yards, a notification said on Thursday. "Steel manufacturers can also claim duty drawback on steel supplied through their service centres/distributors/dealers/stock yards," according to the notification of the Directorate General of Foreign Trade (DGFT).

Steel manufacturers can avail duty drawback benefits on steel supplied through their service centres, distributors, dealers and stock yards, a notification said on Thursday. Duty drawback is the refund of duties on imported inputs for export items. "Steel manufacturers can also claim duty drawback on steel supplied through their service centres/distributors/dealers/stock yards," according to the notification of the Directorate General of Foreign Trade (DGFT). In a separate notice, the DGFT laid out the procedure for allocation of quota for import of urad. "The quota of 1.5 lakh tonne of urad shall be distributed equally, or for the quantity applied, whichever is lower, only amongst the eligible and verified applicants who were alloted quota for import of urad in June 2020," it said. It added that the eligible and verified applicants who have been issued licences will have to ensure that the import consignment reaches the Indian ports on or before March 31, 2021.