income from business or profession
This query is : Resolved
10 July 2011
what is meant for "duty entitlement passbook scheme" and "duty free replenishment certificate"?
10 July 2011
The Duty Entitlement Passbook Scheme :
It is a part of Duty Remission Scheme.
*
For exporters not desire of going through the licensing route, an optional facility is given under DEPB.
*
The objective of DEPB is to neutralise the incidence of Customs duty on the import content of the export product.
*
The neutralisation shall be provided by way of grant of duty credit against the export product.
*
Under the DEPB scheme, an exporter may apply for credit, as a specified percentage of FOB value of exports, made in freely convertible currency or the payment made from the Foreign Currency Account of the SEZ unit in case of supply by DTA to SEZ unit.
*
The credit shall be available against such export products and at such rates as may be specified by the Director General of Foreign Trade by way of public notice issued in this behalf, for import of raw materials, intermediates, components, parts, packaging material etc.
*
The credit may also be utilized for payment of Customs Duty on any item which is freely importable.
It is a part of Duty Remission Scheme.
*
For exporters not desire of going through the licensing route, an optional facility is given under DEPB.
*
The objective of DEPB is to neutralise the incidence of Customs duty on the import content of the export product.
*
The neutralisation shall be provided by way of grant of duty credit against the export product.
*
Under the DEPB scheme, an exporter may apply for credit, as a specified percentage of FOB value of exports, made in freely convertible currency or the payment made from the Foreign Currency Account of the SEZ unit in case of supply by DTA to SEZ unit.
*
The credit shall be available against such export products and at such rates as may be specified by the Director General of Foreign Trade by way of public notice issued in this behalf, for import of raw materials, intermediates, components, parts, packaging material etc.
*
The credit may also be utilized for payment of Customs Duty on any item which is freely importable.
10 July 2011
Duty free replenishment certificate :
Under this scheme exporters are allowed to import duty free raw material, consumables etc. which are being used by them in manufacturing of the goods which is going to be exported by them.
For a better ad practical understanding you may follow the link-
https://www.eximguru.com/notifications/duty-free-replenishment-certificate-or-12441.aspx
Under this scheme exporters are allowed to import duty free raw material, consumables etc. which are being used by them in manufacturing of the goods which is going to be exported by them.
For a better ad practical understanding you may follow the link-
https://www.eximguru.com/notifications/duty-free-replenishment-certificate-or-12441.aspx
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