https://www.taxtmi.com/caselaws?id=125626 Quartz wrist watches with gold bracelets exported before 1 April 1999 were treated as falling within the generic description of quartz watches eligible for DEPB credit at 21% under the Export and Import Policy, 1997-2002. The later public notice of 31 March 1999, read with the accompanying general instruction, operated to change the earlier entitlement position by excluding gold watches rather than merely explaining it. In fiscal matters, an instrument affecting entitlement is not retrospective unless clearly stated. Because the notice itself took effect from 1 April 1999, it applied only to exports made thereafter. The exporters were therefore entitled to DEPB credit for pre-1 April 1999 exports. en-us Fri, 29 Aug 2008 00:00:00 +0530 Tue, 16 Aug 2022 14:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=125626 Quartz wrist watches with gold bracelets exported before 1 April 1999 were treated as falling within the generic description of quartz watches eligible for DEPB credit at 21% under the Export and Import Policy, 1997-2002. The later public notice of 31 March 1999, read with the accompanying general instruction, operated to change the earlier entitlement position by excluding gold watches rather than merely explaining it. In fiscal matters, an instrument affecting entitlement is not retrospective unless clearly stated. Because the notice itself took effect from 1 April 1999, it applied only to exports made thereafter. The exporters were therefore entitled to DEPB credit for pre-1 April 1999 exports. Case-Laws Customs Fri, 29 Aug 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=125626