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It has come to the notice of the Board that different yard stick is being adopted at various Customs Houses to Calculate the FOB value of exports undertaken from Land Customs Stations for calculation of drawback/ DEPB entitlement as a percentage of FOB value of exports
In exercise of powers conferred by section 5 of the Foreign Trade (Development and Regulation) Act, 1992 (No. 22 of 1992) read with paragraph 1.3 of the Export and Import Policy, 1997-2002 (incorporating amendment made upto 13.4.98) , the Central Government hereby makes following amendments in the Export and Import Policy, 1997-2002: (incorporating amendment made upto 13.4.98).
In case of exports under DEPB scheme, the FOB value in free foreign exchange shall be converted into Indian rupees as per the authorised dealers’ T/T buying/on-demand buying rate, as the case may be, prevalent on the date of negotiation/purchase of document.
