The
duty credit under the scheme shall be calculated by taking
into account the deemed import content of the said export
product as per SION and the basic custom duty and surcharge
thereof payable on such deemed imports. The value addition
achieved by export of such product shall also
be taken into account while determining the rate of duty
credit under the scheme.
Validity
The
DEPB shall be valid for a period of 12 months from the
date of issue.
Revalidation
No
revalidation shall be granted beyond the original period
of validity of DEPB.
Application
in prescribed form
An
application for grant of credit under DEPB may
be made to the licensing authority
concerned in the prescribed form in duplicate alongwith
the following documents:
- Bank
Receipt (in duplicate) / Deemand Draft evidencing
payment of application fee at the rate of Rs.
5 per thousand subject to minimum of Rs. 200.
- E.P.
Copy of DEPB shipping Bills.
- Bank
Certificate of Exports.
- Self
attested copy of valid Registration cum Membership
Certificate.
- Exporter
Importer Profile, in duplicate.
The
application may be made by the Registered
Office or Head Office or a Branch
Office or manufacturing units of the eligible
exporter to the licensing authority concerned.
Time
Period
The
application for obtaining the credit should be filed
with in a period of 180 days from the date of exports
or within 90 days from the date of realisation, whichever
is later,reckoned from the last date of realisation
/ exports, in respect of shipments for which the claim
have been filed.
Frequency
of Application
The
applicant may file one or more applications subject
to the condition that each application
shall contain not more than 25 shipping bills.
All the shipping bills in any
one application must relate to exports
made from one Custom House only. This limit shall not
apply to the applications filed through EDI mode.
The
DEPB shall be issued with
single port of registration, which
will be the port from where the exports have been
effected.
Wherever
provisional shipment has been allowed by
the customs authorities, DEPB
against such exports shall be
issued only after the release
of the shipping bill by
the Customs. In such cases, application for DEPB shall
be filed within 180 days from the date of release of
such shipping bill.
Verification
by Customs
The
licensing authority shall ensure that while issuing
the DEPB, the shipping bill no.(s) and date(s),
FOB value in Indian rupees as per shipping
bill(s) and description of export
product are endorsed on the DEPB. Before allowing the
imports against DEPB, the Customs shall verify that
the details of the exports as given on the DEPB are
as per their records.
Transferability
The
DEPB and/or the items imported against it are freely
transferable. The transfer of DEPB shall however be
for import at the port where exports have been made.
However, imports from a port other than the port of
export shall be allowed under TRA facility as per the
terms and conditions of the notification issued by Department
of Revenue.
Applicability
of Drawback
The
exports made under the DEPB Scheme shall not be entitled
for drawback. The additional customs duty paid in cash
on inputs under DEPB shall be adjusted as CENVAT Credit
or Duty Drawback as per Rules framed by the Deptt. of
Revenue. However, where the Additional customs Duty
is adjusted from DEPB, no benefit of CENVAT / Drawback
shall be admissible.
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