DEPB
This query is : Resolved
17 May 2011
I want to know in detail what is DEPB scheme and how it is claimed?
17 May 2011
DEPB (Duty Entitlement Pass Book ) is an export incentive scheme of Indian Government provided to Exporters in India.[1]
Duty Entitlement Pass Book Scheme in short DEPB is an export incentive scheme. Notified on 1/4/1997, the DEPB Scheme consisted of (a) Post-export DEPB and (b) Pre-export DEPB. The pre-export DEPB scheme was abolished w.e.f. 1/4/2000. Under the post-export DEPB, which is issued after exports, the exporter is given a duty entitlement Pass Book Scheme at a pre-determined credit on the FOB value. The DEPB rates allows import of any items except the items which are otherwise restricted for imports. Items such as Gold Nibs, Gold Pen, Gold watches etc. though covered under the generic description of writing instruments, components of writing instruments and watches are thus not eligible for benefit under the DEPB scheme.
The DEPB Rates are applied on the basis of FOB value or value cap whichever is lower. For example, if the FOB value is Rs.700/- per piece, and the value cap is Rs.500/- per piece, the DEPB rate shall be applied on Rs.500/-. The DEPB rate and the value cap shall be applicable as existing on the date of exports as defined in paragraph 15.15 of Handbook (Vol.1).
for more info:-
https://www.caclubindia.com/experts/regarding-depb-scheme-for-export-4936.asp
Duty Entitlement Pass Book Scheme in short DEPB is an export incentive scheme. Notified on 1/4/1997, the DEPB Scheme consisted of (a) Post-export DEPB and (b) Pre-export DEPB. The pre-export DEPB scheme was abolished w.e.f. 1/4/2000. Under the post-export DEPB, which is issued after exports, the exporter is given a duty entitlement Pass Book Scheme at a pre-determined credit on the FOB value. The DEPB rates allows import of any items except the items which are otherwise restricted for imports. Items such as Gold Nibs, Gold Pen, Gold watches etc. though covered under the generic description of writing instruments, components of writing instruments and watches are thus not eligible for benefit under the DEPB scheme.
The DEPB Rates are applied on the basis of FOB value or value cap whichever is lower. For example, if the FOB value is Rs.700/- per piece, and the value cap is Rs.500/- per piece, the DEPB rate shall be applied on Rs.500/-. The DEPB rate and the value cap shall be applicable as existing on the date of exports as defined in paragraph 15.15 of Handbook (Vol.1).
for more info:-
https://www.caclubindia.com/experts/regarding-depb-scheme-for-export-4936.asp
17 May 2011
for more information :-
http://www.depb.net/
http://www.depb.net/
17 May 2011
link is :-
http://www.ieport.com/2005-2006/circulars/cir28.htm
http://www.ieport.com/2005-2006/circulars/cir28.htm
17 May 2011
http://dgftcom.nic.in/exim/2000/AN/Sub%20Section%20VC.doc
17 May 2011
As per para 7.38 of the current hand book of procedure vol-I, an application for grant of credit under DEPB may be made to the licensing authority concerned in the form given in Appendix-11C along with the documents prescribed there in. The provision of paragraph 7.2 shall be applicable for DEPB also. Reproduced below the provision for ready reference: “An Advance Licence is issued under Duty Exemption Scheme to allow import of inputs which are physically incorporated in the export product (making normal allowance for wastage). In addition, fuel, oil, energy, catalysts etc. which are consumed in the course of their use to obtain the export product, may also be allowed under the scheme.” The FOB value in free foreign exchange shall be converted into Indian rupees as per the authorised dealer’s T/T buying on demand buying rate, as the case may be, prevalent on the date of negotiation / purchase / collection of document. The DEPB rate of credit shall be applied on the FOB value so arrived.
Validity of DEPB Entitlement Pass Book
Under para 7.15 the DEPB shall be valid for a period of 24 months from the date of issue.
Transferability of DEPB Entitlement
The DEPB shall be initially issued with non-transferable endorsement in such cases where the realisation has not taken place to enable the exporter to effect import for his own use. However, upon receipt of realisation, the DEPB shall be endorsed transferable. In such cases, where the applicant applies for DEPB after realisation, the DEPB shall be issued with transferable endorsement.
The DEPB and/or the items imported against it are freely transferable. The transfer of DEPB shall however be for import at the port where from export have been made. However, import from a port other than the port of export shall be allowed under TRA facility as per the terms and conditions of the notification issued by Department of Revenue. However, the facility of transferability may be allowed against DEPB without insisting on realisation of export proceeds if the shipments are made against irrevocable letter of credit and the same is certified by the bank in column 14/15 of Appendix 25.
for issuance tell me.
Validity of DEPB Entitlement Pass Book
Under para 7.15 the DEPB shall be valid for a period of 24 months from the date of issue.
Transferability of DEPB Entitlement
The DEPB shall be initially issued with non-transferable endorsement in such cases where the realisation has not taken place to enable the exporter to effect import for his own use. However, upon receipt of realisation, the DEPB shall be endorsed transferable. In such cases, where the applicant applies for DEPB after realisation, the DEPB shall be issued with transferable endorsement.
The DEPB and/or the items imported against it are freely transferable. The transfer of DEPB shall however be for import at the port where from export have been made. However, import from a port other than the port of export shall be allowed under TRA facility as per the terms and conditions of the notification issued by Department of Revenue. However, the facility of transferability may be allowed against DEPB without insisting on realisation of export proceeds if the shipments are made against irrevocable letter of credit and the same is certified by the bank in column 14/15 of Appendix 25.
for issuance tell me.
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