GOVERNMENT OF INDIA
MINISTRY OF COMMERCE
DIRECTORATE GENERAL OF FOREIGN TRADE
POLICY CIRCULAR NO. 19 (RE-98)/1998-2002,
Subject :- Clarification with regard to application of DEPB rate/ capping.
Representations have been received by the individual exporters as well as Export Promotion Councils with regard to the reduction in the DEPB rate on certain export product as well as imposition of value cap for calculation of DEPB entitlement on certain export products.
This issue has been examined and it has been decided that wherever the DEPB rates have been reduced or value capping has been imposed, the reduction of rate or imposition of value cap shall not be applicable wherever the consignment of exports under DEPB have already been handed over to the Customs Authorities prior to the date of notification for examination and clearance for exports.
This issues with the approval of Commerce Minister.