India is the second largest textile producer and manufacturer globally, producing nine million tonnes of fibre annually. The document aims to analyze obstacles in claiming export refunds and duty drawbacks for the textile industry in India due to a lack of clear policies and procedures. It seeks to provide a detailed structure for export and import (EXIM) of textiles under India's Harmonized System, clarify refund and drawback claim processes, and identify documents required to streamline the currently delayed rebate system.
India is the second largest textile producer and manufacturer globally, producing nine million tonnes of fibre annually. The document aims to analyze obstacles in claiming export refunds and duty drawbacks for the textile industry in India due to a lack of clear policies and procedures. It seeks to provide a detailed structure for export and import (EXIM) of textiles under India's Harmonized System, clarify refund and drawback claim processes, and identify documents required to streamline the currently delayed rebate system.
India is the second largest textile producer and manufacturer globally, producing nine million tonnes of fibre annually. The document aims to analyze obstacles in claiming export refunds and duty drawbacks for the textile industry in India due to a lack of clear policies and procedures. It seeks to provide a detailed structure for export and import (EXIM) of textiles under India's Harmonized System, clarify refund and drawback claim processes, and identify documents required to streamline the currently delayed rebate system.
for textile TEXTILES AND GARMENTS IN INDIA • Second largest textile fibre producer in the world. • India is the largest cotton and jute producer in the world. • Nine million tonnes of fibre production in 2015- 16. • Second largest textile manufacturing capacity globally. • India accounts for 18% of world's spindles and 9% of world's rotor. • 5% share in global textiles and apparel trade. Production • Man Made Fibres • The Cotton Sector • The Handloom Sector • The Woolen Sector • The Jute Sector • The Sericulture and Silk Sector Objective • To find the detailed structure in EXIM of Textiles. • Exclusions with respect to Harmonized Commodity Description and Coding System(HS code). • To find INCO terms in policies. • To find the detailed procedure to refund. • To find the list of documents required to claim. • To find the detailed procedure to duty drawback. • To find the list of documents required to claim. The problem under study • The problem comes under the EXIM of Textile, where the drawback and refund are not settled easily and rapidly due to lot of bottlenecks in it. • It leads to lot of time and money for the Shipper to receive the rebated. • Here the problem is lack of knowledge about drawback and refund policies and claim procedures. • This things delay the drawback and refund to claim rapidly. Brief Background • The study has been conducted in M/s Kerry Indev Logistics Private Limited. • The Company is licensed by the Central Board of Excise and Customs, Govt. of India for conducting the clearance of export and import of goods. Conclusion • Thus the problems and barriers in attaining the claims will be find out deep and depth. A suitable suggestions and solutions to avoid and overcome the issues will be provided by this research. A clear structure and procedure to attain the claims are fragmented to the readers.