The Director General of Foreign Trade (DGFT), through Public Notice No. 5/2004-09 dated 16th September 2004, announced an amendment to the Handbook of Procedures under the Foreign Trade Policy (2004-09). The correction, issued under Paragraph 2.4 of the policy, pertains to the utilization of Duty Entitlement Passbook (DEPB) credit for edible oils. As per the updated clause, exporters of edible oils, whether refined or unrefined, are permitted to use DEPB credit for debiting 50% of the applicable customs duty. The remaining 50% of the duty must be paid in cash. This amendment aims to streamline the DEPB credit mechanism for edible oils, ensuring better regulatory compliance and fiscal management. The notice was issued in public interest by K.T. Chacko, Director General of Foreign Trade.
GOVERNMENT OF INDIA
MINISTRY OF COMMERCE AND INDUSTRY
DEPARTMENT OF COMMERCE
PUBLIC NOTICE No 5 /2004-09
NEW DELHI: the 16th September, 2004
In exercise of powers conferred under Paragraph 2.4 of the Foreign Trade Policy, 2004-09, the Director General of Foreign Trade hereby makes the following corrections in Handbook of Procedures (Vol. I) :-
At the end of Para 4.42 related to “utilization of DEPB credit”, the following clause shall be added:-
“In case of edible oils, whether refined or unrefined, the DEPB may be used for debit of 50% of the applicable duty and the balance 50% shall be paid in cash.”
This issues in Public Interest.
(K.T CHACKO)
DIRECTOR GENERAL OF FOREIGN TRADE
AND EX-OFFICIO ADDITIONAL SECRETARY TO THE GOVT. OF INDIA
(Issued from File No. 01/94/180/9/AM05/PC.IV )
