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of <h1>Finance Ministry Clarifies Rules on Converting Free Shipping Bills to Advance License, DEPB, DFRC, and Drawback Bills.</h1> The circular from the Ministry of Finance addresses the conversion of free shipping bills into Advance License, DEPB, DFRC, and Drawback shipping bills, as well as conversions between different export promotion schemes. It clarifies that conversion of free shipping bills into drawback shipping bills is not generally allowed, though exceptions may be considered by the Commissioner under specific conditions. Conversion into Advance License, DEPB, or DFRC shipping bills is discouraged due to self-assessment responsibilities. However, conversion between schemes may be permitted if the export promotion benefit is denied, subject to conditions such as timely requests, proof of input use, and absence of fraud. This circular supersedes previous directives on the issue.
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