Duty sops for textile exports revised

The government has revised the rates under the Duty Entitlement Passbook (DEPB) scheme, a popular duty neutralisation scheme, for all 83 textiles products under it.

The differential revised rates, effective from December 30, have been reduced by 60 per cent in case of cotton, 30 per cent for blended and woollen items and 22.5 per cent in case of man-mades and silk.

"The revision in the rates has been done by adopting a comprehensive approach consistent with the change in the excise duty in the Budget for 2004-05 in respect to synthetic, man-made, woollen, silk and blended and textile products," an official release said.

Accordingly, the reduction in DEPB rates is the sharpest in the case of cotton.