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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Finance Ministry Clarifies DEPB Credit Misuse: No Splitting FOB Value for Partial Product Coverage.</h1> The circular from the Ministry of Finance, Department of Revenue, addresses the improper practice of granting Duty Entitlement Pass Book (DEPB) credit by splitting the Free on Board (FOB) value of export products that are not fully covered under relevant DEPB rate entries. It clarifies that splitting the FOB value into separate elements for different product parts to qualify for DEPB credit is incorrect. Products not entirely covered by DEPB descriptions cannot receive credit by artificially dividing their FOB values. The directive mandates uniform application of this decision across all Custom Houses to prevent revenue loss.
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