Duty Entitlement Passbook Scheme
Duty Entitlement Passbook Scheme (DEPB) is an export incentive scheme implemented by the Indian Government to the exporters of the country. The scheme refunds duties that are paid by the export in the form of credit. The purpose of provisional DEPB rates is to encourage the diversification and to promote the export of new products. However, the provisional DEPB rates are valid only for a limited period of time when the exporter has to furnish data on export and import for regular fixation of rates.The objective of the scheme is to neutralize the incidence of basic custom duty on the import content of the exported products. Under the scheme, an exporter is eligible to claim credit as a specified percentage of value of exported product and is available at a rate of exported product as may be determined by Director General of Foreign Trade (DGFT).
Implementation of DEPB Rates-
*DEPB rates are rationalized to the account for the changes in the customs duties.
*The caps are fixed on certain items but there would be no verification of Present Market Value(PMV) on these items.
*A number of ports have been added in order to avail the facilities under the Duty Exemption Scheme, including the DEPB.
*The threshold limit of Rs. 200 million to fix new DEPB rates have been removed.
Why choose us
*Complete expertise in required documentation and filing of Applications
*Speedy Issuance from DGFT
*Immediate Registration at Customs
*Sale/ Purchase at the most competitive prices