20th November, 2001
Government of India
Ministry of Finance
Department of Revenue
Sub: Non applicability of value caps in respect of drug formulation of Sr. No 40 of the DEPB Rate List (Appendix 20A) pertaining to Chemical & Allied product Group.
Attention to invited to Board”s fax letter of even number dated 2.5.2001. The matter has been examined by the DEPB Committee on 2.11.2001 wherein it was decided to effect modifications in the DEPB rates with reference to Sr. Nos. 37 and 40 of the DEPB Rate List pertaining to Chemical & Allied Product Group. A Public Notice No. 50 (RE)/1997-2001, in this regard was issued by DGFT on 13.11.2001, a copy of which is enclosed for ready reference. These modifications were given effect to from 2.11.2001 and rates and the policy as existing shall be applicable i.e. no value caps would be applicable in case of Sr. No.40 of the DEPB rate list pertaining to Chemical & Allied Product Group, in case of exports prior to 2.11.2001.
2. This may kindly be brought to the notice of trade and field officer.
3. Receipt of this Circular may kindly be acknowledged.