https://www.taxtmi.com/circulars?id=3991 Default in realization of export proceeds under DEPB occurs when exporters fail to submit file-wise proof of realization in the prescribed format; they must submit bank evidence and obtain a closure memo, failing which they will be declared defaulters without further notice. Administrative consequences include stoppage of fresh licence issuance and freezing of the IEC at Customs. A proforma bank certificate is provided to record bank reference, shipping bill details, amounts realised in foreign exchange and rupees, date of realisation and required signatures. en-us Wed, 01 Jan 2003 00:00:00 +0530 Wed, 02 Jan 2008 18:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=3991 Default in realization of export proceeds under DEPB occurs when exporters fail to submit file-wise proof of realization in the prescribed format; they must submit bank evidence and obtain a closure memo, failing which they will be declared defaulters without further notice. Administrative consequences include stoppage of fresh licence issuance and freezing of the IEC at Customs. A proforma bank certificate is provided to record bank reference, shipping bill details, amounts realised in foreign exchange and rupees, date of realisation and required signatures. Circulars DGFT Wed, 01 Jan 2003 00:00:00 +0530 https://www.taxtmi.com/circulars?id=3991