Use of notified exchange rate ensures DEPB credit is calculated based on the let export date rate despite lower realisation. The Ministry of Finance notified exchange rate applicable on the date of 'let export' is to be used to convert foreign currency export receipts into rupee equivalents for DEPB credit computation; if that notified rate exceeds the rate actually realised, the notified rate nonetheless governs DEPB calculations and regional licensing authorities must apply it per Handbook of Procedures (Vol I) para 4.43.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Use of notified exchange rate ensures DEPB credit is calculated based on the let export date rate despite lower realisation.
The Ministry of Finance notified exchange rate applicable on the date of "let export" is to be used to convert foreign currency export receipts into rupee equivalents for DEPB credit computation; if that notified rate exceeds the rate actually realised, the notified rate nonetheless governs DEPB calculations and regional licensing authorities must apply it per Handbook of Procedures (Vol I) para 4.43.
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