Methodology to calculate DEPB rates for drugs formulations in terms of Policy Circular no.20 dated 31.7.2000

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.... TRADE CIR. NO. 21(RE-2003)/2002-2007, DT. 03/12/2003 Representations have been received by this office that in case of export of pharmaceutical formulations under DEPB, sometimes rate is worked out in fractions when calculated as per the formula prescribed by the Policy Circular No.20 dated 31.7.2000. They have further stated that as per existing practice, the DEPB entitlement rate is round....

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....it will be rounded to the nearest higher rate, is a standard practice which is applied everywhere. The committee also observed that statistically, over a period of time, such a method would be revenue neutral and, therefore, the contention of Department of Revenue that it would result in excess outgo of revenue is not correct. The committee, therefore, decided to clarify that the method of roundin....