Public Notice No. 60/2002-07, dated 21st January 2003, issued by the Directorate General of Foreign Trade (DGFT), amends the Handbook of Procedures (Vol.1) under the Export and Import Policy, 2002-07. The amendment addresses corrections to Paragraph 4.37 related to the Duty Entitlement Passbook (DEPB) Scheme. It clarifies the calculation of duty credit under the scheme, which should be based on the deemed import content of the exported product as per the Standard Input Output Norms (SION), as well as the basic customs duty and special additional duty (SAD) payable on such deemed imports. The value addition from the export of the product is also considered in determining the rate of duty credit. The correction is effective from 1st April 2002. Additionally, the table in Appendix 10A, which deals with the computation of DEPB rates, is updated, detailing the procedure for calculating customs duty and SAD for various export items based on their SION details. This update is issued in the public interest and signed by L. Mansingh, Director General of Foreign Trade.
GOVERNMENT OF INDIA
MINISTRY OF COMMERCE AND INDUSTRY
PUBLIC NOTICE No. 60 /2002-07
NEW DELHI: the 21st January, 2003
In exercise of powers conferred under paragraph 2.4 of the Export and Import Policy, 2002-07, the Director General of Foreign Trade hereby makes the following amendment in the Handbook of Procedures (Vol.1):-
1) Paragraph 4.37 pertaining to the “Duty Entitlement Passbook Scheme” is corrected as under:
The Policy relating to Duty Entitlement Passbook Scheme (DEPB) Scheme is given in Chapter-4 of the Policy. The duty credit under the scheme shall be calculated by taking into account the deemed import content of the said export product as per SION and the basic custom duty and special additional duty ( SAD) payable on such deemed imports. The value addition achieved by export of such product shall also be taken into account while determining the rate of duty credit under the scheme.
(The expression “correction” denotes that this change is effective from 01.04.2002)
2) The table at S.No 3. and the Worksheet for computation of DEPB Rates as given in Appendix 10 A pertaining to the “Data Sheet for DEPB Rates” is corrected as under:
3. Item of export for which fixation of DEPB rate is sought.
| Description of Item of export | Sl.No. in Handbook (Vol.2) | Inputs allowed | |||
| Description | ITC(HS) (Code) | Basic Customs Duty | Special Additional Duty (SAD) | ||
WORKSHEET FOR COMPUTATION OF DEPB RATES
| FOB value per unit quantity
of export product ( in Kg./MT etc.) |
Description of import items allowed as per SION | Quantity of import items allowed for each of the input as per SION
(Kg./MT etc.) |
CIF value per unit quantity (Kg./MT etc.) of each of the items allowed for import in SION
(In Rs./US$) |
CIF value of each of the inputs allowed for import in SION
[Column (3) X Column (4)] (In Rs/US$) |
Rate of basic Customs Duty against each of the inputs allowed for import in SION | Rate of SAD against each of the inputs allowed for import in SION | Effective basic Customs duty against each of the input allowed for import in SION
Column (5) X {Column (6)+ Column (7)} (In Rs./US$) |
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) |
| Total CIF
(In Rs./US) |
Total Customs Duty
(In Rs./US$) |
This issues in public interest.
(L. Mansingh)
Director General of Foreign Trade
(File No: 01/94/180/26/AM03/ PC IV)
