https://www.taxtmi.com/caselaws?id=176020 A subsequent reduction in export incentive entitlement cannot be applied to a pre-existing concluded export contract where the exporter fixed pricing and altered its position on the basis of the then-prevailing policy. The amended Exim Policy was therefore held inapplicable to contracts concluded before 15 April 1998, even though the physical exports occurred later. Paragraph 1.5 of the policy, including protection for exports covered by a prior irrevocable letter of credit, supported the application of the earlier entitlement. The relevant exports accordingly remained eligible for DEPB benefit at 23%. en-us Fri, 21 May 2010 00:00:00 +0530 Thu, 10 Dec 2015 15:17:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=176020 A subsequent reduction in export incentive entitlement cannot be applied to a pre-existing concluded export contract where the exporter fixed pricing and altered its position on the basis of the then-prevailing policy. The amended Exim Policy was therefore held inapplicable to contracts concluded before 15 April 1998, even though the physical exports occurred later. Paragraph 1.5 of the policy, including protection for exports covered by a prior irrevocable letter of credit, supported the application of the earlier entitlement. The relevant exports accordingly remained eligible for DEPB benefit at 23%. Case-Laws Customs Fri, 21 May 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=176020