Need Tally
for Clients?

Contact Us! Here

  Tally Auditor

License (Renewal)
  Tally Gold

License Renewal

  Tally Silver

License Renewal
  Tally Silver

New Licence
  Tally Gold

New Licence
 
Open DEMAT Account with in 24 Hrs and start investing now!
« Top Headlines »
Open DEMAT Account in 24 hrs
 Delhi HC Rules GST Registration Cannot Be Cancelled Retrospectively Without a Clear Show Cause Notice (SCN)
 Belated income tax return AY 2026-27: How to file, late filing charges and what you may lose
 Major Financial Changes from August 1, 2026: ITR Deadline, RBI MPC Meeting, Tatkal Ticket Rules & More
 Government proposes to ease tax relief conditions for offshore funds
 TallyPrime Connected Banking: Automating Banking and Accounting
 ITR Filing Deadline 2026: Is July 31 the Last Date to File Your Income Tax Return? Latest Official Update
 ITR filing deadline nears: How to file income tax return online on e-filing portal - quick 15-step guide
 Will the ITR Filing Deadline Be Extended Beyond July 31 for FY 2025-26? Here's the Latest Update for Taxpayers
 Income Tax Refund Delayed for AY 2026-27? 5 Common Reasons Your Refund May Be Stuck and How to Fix It
 ITR Filing 2026: FM Nirmala Sitharaman Asks Tax Officials to Let Honest Taxpayers Correct Genuine Mistakes
 Will Your FCNR Deposit Stay Tax-Free After Returning to India? Tax Rules Explained for NRIs

Duty Entitlement Pass Book scheme extended till further orders
April, 01st 2008
Annual supplement to foreign trade policy on April 11


Export promotion

DEPB rates announced from April 1, 2007 and subsequent amendments made should continue for all exports under the scheme even after March 31.

The scheme came under the WTO scanner as it was deemed WTO-incompatible.

Exporters welcome the Ministrys move to extend the scheme.


The uncertainty hovering around the continuation of the popular export promotion scheme, Duty Entitlement Pass Book (DEPB) scheme was ended today with the Directorate General of Foreign Trade (DGFT) stating that the scheme, which was valid for shipments up to March 31, 2008, has been extended till further orders.

A statement issued by the DGFT said that this would facilitate shipments to be allowed under the Scheme by the field formations of Customs even beyond March 31. It was further clarified that the DEPB rates announced effective from April 1, 2007 and subsequent amendments made in them should continue for all exports under DEPB scheme even after March 31.

The DEPB scheme provides reimbursement of customs duty and allows manufacturer-exporters to use partly or fully domestic inputs and the scheme refunds the customs duty as if the domestic inputs had been imported. It thus promotes the use of domestically produced/sourced inputs in the production of exported products.

However, it came under the WTO scanner and was deemed WTO-incompatible because the scheme does not require imports to be made of the inputs used in the production process. Besides, the fact that the duty credit is freely transferable disconnects altogether eventual imports against which it is used from the actual inputs used in the production process of the exported product.

When contacted the FIEO President, Mr Ganesh Kumar Gupta, said that he welcomes the step of the Commerce Ministry as exporters could ship their products without any hassle now. He said that at a time when the exporters business calculations were buffeted by rising transaction cost and appreciating rupee, the exporters were seeking the extension of DEPB as the only mitigating step.

Trade policy supplement

Meanwhile, the annual supplement to the Foreign Trade Policy (FTP) scheduled for April 7 has been further put off to April 11 as India is hosting the Africa Summit beginning on April 7 in which the Ministry of Commerce and Industry is proactively involved, besides the External Affairs Ministry and the Prime Ministers Office, an official source said here.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2026 CAinINDIA All Right Reserved.
Designed and Developed by Ritz Consulting