HOW TO IMPORTS GOODS UNDER DEBP. WHAT IS THE WHOLE PROCESS FOR IT.

HOW TO IMPORTS GOODS UNDER DEBP. WHAT IS THE WHOLE PROCESS
FOR IT.

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HOW TO IMPORTS GOODS UNDER DEBP. WHAT IS THE WHOLE PROCESS FOR IT...

Answer / anshu

Duty Entitlement Pass Book Scheme in short DEPB is an
export incentive scheme. Notified on 1/4/1997, the DEPB
Scheme consisted of (a) Post-export DEPB and (b) Pre-export
DEPB. The pre-export DEPB scheme was abolished w.e.f.
1/4/2000. Under the post-export DEPB, which is issued after
exports, the exporter is given a
duty entitlement Pass Book Scheme at a pre-determined
credit on the FOB value. The DEPB rates is allows import of
any items except the items which are otherwise restricted
for imports. Items such as Gold Nibs, Gold Pen, Gold
watches etc. though covered under the generic description
of writing instruments, components of writing instruments
and watches are thus not eligible for benefit under the
DEPB scheme.
The DEPB Rates are applied on the basis of FOB value or
value cap whichever is lower. For example, if the FOB value
is Rs.700/- per piece, and the value cap is Rs.500/- per
piece, the DEPB rate shall be applied on Rs.500/-
Benefits of DEPB Rates
The benefit of DEPB schemes is available on the export
products having extraneous material up to 5% by weight. In
such cases, extraneous material up to 5% shall be ignored
and the DEPB rate as notified for that export product is be
allowed.
Review of DEPB Rates
The Government of India review the DEPB rates after getting
the appropriate a export import data on FOB value of
exports and CIF value of inputs used in the export product,
as per SION. Such data and information is usually obtained
from the concerned Export Promotion Councils.