Duty entitlement passbook exemption allows specified imports to claim reduced customs duty when supported by prior DEPB credits. Exemption from customs duty and additional duty is permitted for imports against a Duty Entitlement Pass Book issued under the Foreign Trade Policy, limited to amounts in excess of duties calculated at the notified standard and additional duty rates. Claiming exemption requires prior credit entries and production of the DEPB at import; insufficient DEPB credit precludes exemption. The DEPB is valid for a prescribed period and at specified ports and depots, transfers to non-holders are limited to specific non provisional credits, and additional duty treatment and offsetting with drawback or CENVAT credit are specified.
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.
Duty entitlement passbook exemption allows specified imports to claim reduced customs duty when supported by prior DEPB credits.
Exemption from customs duty and additional duty is permitted for imports against a Duty Entitlement Pass Book issued under the Foreign Trade Policy, limited to amounts in excess of duties calculated at the notified standard and additional duty rates. Claiming exemption requires prior credit entries and production of the DEPB at import; insufficient DEPB credit precludes exemption. The DEPB is valid for a prescribed period and at specified ports and depots, transfers to non-holders are limited to specific non provisional credits, and additional duty treatment and offsetting with drawback or CENVAT credit are specified.
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