Duty Entitlement Passbook Scheme clarified to neutralise customs duty and revisions made to export recognition criteria and compliance. The Passbook Scheme is renamed Duty Entitlement Passbook Scheme; DEPB is defined to neutralise basic customs duty by granting duty credit based on deemed import content computed under Standard Input Output Norms and value addition. Export obligation is 8 months except for supplies under Special Imprest/Advance Licences to projects/turnkey projects, where obligation follows contracted execution duration. Conversion between EHTP/STP and EOU units is permitted with continuation in bond and concessions. Net Foreign Exchange calculation is amended to deduct the value of all licences, including a specified multiple of DEPB credit and duty free precious metals from nominated agencies, while excluding freely transferable Special Import licences, EPCG licences and licences surrendered during validity. Transitional recognition criteria for 1997-98 and 1998-99 specify FOB and NFE thresholds for Export House, Trading House, Star and Super Star categories.
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Duty Entitlement Passbook Scheme clarified to neutralise customs duty and revisions made to export recognition criteria and compliance.
The Passbook Scheme is renamed Duty Entitlement Passbook Scheme; DEPB is defined to neutralise basic customs duty by granting duty credit based on deemed import content computed under Standard Input Output Norms and value addition. Export obligation is 8 months except for supplies under Special Imprest/Advance Licences to projects/turnkey projects, where obligation follows contracted execution duration. Conversion between EHTP/STP and EOU units is permitted with continuation in bond and concessions. Net Foreign Exchange calculation is amended to deduct the value of all licences, including a specified multiple of DEPB credit and duty free precious metals from nominated agencies, while excluding freely transferable Special Import licences, EPCG licences and licences surrendered during validity. Transitional recognition criteria for 1997-98 and 1998-99 specify FOB and NFE thresholds for Export House, Trading House, Star and Super Star categories.
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