Depb duty entitlement pass book

Notified on 141997, the depb scheme consisted of a postexport depb and b preexport depb. The objective of depb scheme is to neutralize the incidence of basic custom duty on the import content of the exported products. Entitlement shall also be allowed in the depb at predetermined and prenotified rates. Seeks to levy definitive antidumping duty on normal butanol or nbutyl alcohol, originating in, or exported from the european union, malaysia, singapore, south africa and usa, for. Duty entitlement pass book depb replacement set to cut tax refunds by per cent 17 sep, 2011, 02. The objective of depb is to neutralise the incidence of customs duty on the import content of the export product. Under the new scheme, a duty entitlement passbook depb shall be issued to the eligible exporters by the licensing authorities. A public limited company is engaged in the manufacture and sale of consumer and industrial products.

Vat may be factored into depb the incidence of value added tax vat will be factored into the duty entitlement pass book depb scheme or its successor, if exporters face difficulties in obtaining vat refunds. Import incentives depb epcg dfia under special schemes. It is issued after export, at a predetermined credit on the fob value. Duty entitlement pass book scheme depb agri exchange apeda. The curtain will come down on the duty entitlement pass book depb, the popular tax refund scheme for exporters, on friday.

Accounting and auditing practices volume 20 query no. Under the scheme, an exporter is eligible to claim credit as a specified percentage of value of. Bringing down curtains on the popular duty entitlement pass book depb scheme, the government on friday announced that shipments of 1,100 items will be. Even as the commerce ministry, export organisations and various corporates have been pleading for continuation of the duty entitlement pass book depb scheme for some more time to ensure price compet. In such cases 98% of the credit amount debited against depb for the export of such goods is generated by the concerned commissioner of customs in the form of a certificate, containing.

The depb rates is allows import of any items except the items which are otherwise restricted for imports. Report comptroller and auditor general of india for the. Objective of depb is to neutralize incidence of customs duty on import content of export product. Free online search new depb rates by product group no or descriptions. Component of special additional duty and customs duty on fuel shall also be allowed under depb as brand rate factored in depb rate in case of nonavailment of cenvat credit. The 14yearold duty entitlement pass book depb, the popular tax refund scheme for exporters, came to an end today. We provide our clients various consultancy services regarding depb licensing. The credit amount is only entitled to be adjusted to the amount to be paid as customs duty and cannot be withdrawn or adjusted otherwise.

Initially, the depb scheme consisted of a postexport depb and b preexport depb. New export sop scheme to replace depb likely tomorrow. It is an export promotion incentive by the government for the exporters. Duty entitlement pass book scheme depb is an export incentive scheme. Exporters want depb scheme to stay till gst the hindu. We are a wellnoted service provider of depb licensing services from new delhi. The benefit of depb schemes is available on the export products having extraneous material up to 5% by weight. The depb rates are allows import of any items except the items which are otherwise restricted for imports. Duty entitlement pass book depb duty entitlement pass book is a part of duty remission scheme of indian government provided to exporters in india. Duty entitlement pass book scheme depb scheme the scheme is easy to administer and more transparent. For indian installations, microsoft dynamics ax 2009 provides a countryspecific feature that defines the process for applying and using the duty entitlement pass book depb incentive scheme as specified by the directorate general of foreign trade dgft.

Looking for online definition of depb or what depb stands for. Under this scheme, transferrable depb license can be easily obtained by any exporter under the depb rate schedule. New depb scheme rates under duty entitlement passbook schemes of year 2009, 2008, 2007, 2006, 2005. Duty entitlement pass book in short depb is basically an export incentive scheme.

Duty entitlement passbook scheme it is an export incentive scheme of indian government provided to exporters in india. The duty entitlement pass book depb scheme, which was set to expire on june 30 has now been given a three month extension until september and of course until a new scheme is worked out, reports. Accounting treatment of export incentives under the duty entitlement pass book depb scheme. A revised duty drawback will replace debp from october 1. Govt extends depb scheme by 3 months exporters, stung an uncertain international market, received a major relief with the government deciding to extend the benefits under the duty entitlement pass. Exporters told a government panel on tuesday that the duty entitlement pass book depb scheme should be continued till the introduction of the goods and services tax gst. Updated new depb rates and duty entitlement passbook scheme, depb scheme from dgft, search latest india depb rate list and depb license. The exporter gets credit when he exports the goods. The death of indias most popular export incentive scheme duty entitlement pass book depb scheme was inevitable. Normally the exports under the depb scheme shall not be entitled for drawback, however the additional customs duty paid in cash or through. The depb rates allows import of any items except the items which are otherwise restricted for imports. It came into existence on 01041997, then it had both preexport and. It is a scheme which is offered by the indian government to encourage exports from the country.

Depb duty entitlement pass book is an export incentive scheme of indian government provided to exporters in india. Depb which is an acronym for duty entitlement pass book scheme is an export incentive scheme. Duty entitlement pass book scheme in short depb is an export incentive scheme. Under depb, the government spends annually about rs 8,500 crore for reimbursing exporters. After the export, the exporter is given a duty entitlement pass book scheme at a predetermined credit, determined by dgft, on the fob value. Under the postexport depb, which is issued after exports, the exporter is given a duty entitlement pass book scheme at a predetermined credit on the fob value. Microsoft dynamics ax 2012 r3, microsoft dynamics ax 2012 r2 for indian installations, microsoft dynamics ax 2009 provides a countryspecific feature that defines the process for applying and using the duty entitlement pass book depb incentive scheme as specified by the. Component of special additional duty and customs duty on fuel shall also be allowed under depb as brand rate factored in depb rate in case of nonavailment of. Duty entitlement passbook scheme depb is an export incentive scheme which initially consisted of two parts. Duty entitlement pass book academic dictionaries and. Duty entitlement pass book depb cybex exim solutions.

Depb duty entitlement passbook scheme indiafilings. Duty entitlement passbook scheme depb duty entitlement passbook scheme is an export encouragement scheme instituted by the government of india to the indian exporters in the year 1997. Depb scheme rate under duty entitlement passbook scheme. The objective of the scheme is to neutralize the incidence of basic custom duty on the import content of the exported products. What is the abbreviation for duty entitlement pass book. Depb abbreviation stands for duty entitlement pass book. Depb is listed in the worlds largest and most authoritative dictionary database of abbreviations and acronyms the free dictionary.

Depb means duty entitlement pass book to neutralise the incidence of basic and special customs duty on import content of export product. Information to maximize depb rate for your export products. Items such as gold nibs, gold pen, gold watches etc. Depb rates export incentives by indian government, used to saved customs duty when import the goods. This page is about the meanings of the acronymabbreviationshorthand depb in the governmental field in general and in the military terminology in particular. Not only was the wto at the indian governments throat because of subsidies hidden in the scheme, but also the latter itself was uncomfortable with the amount of duty it was. Duty entitlement passbook scheme is an export encouragement scheme instituted by the government of india to the indian exporters in the year 1997. Duty entitlement passbook scheme depb helpline law.

Depb duty entitlement pass book scheme is an export incentive scheme provided in import and export policy. Cost concept duty entitlement pass book scheme depb. Depb duty entitlement pass book scheme is an export incentive scheme with the help of which, any exporter can obtain transferable depb license under the depb rate schedule of the policy. The audit of revenue receipts indirect taxes of the union government is conducted under the section 16 of the comptroller and. After the export, the exporter is given a duty entitlement pass book scheme at a predetermined credit, determined by dgft, on the fob value the credit amount is only entitled to be adjusted to the amount to be paid as customs duty and cannot be withdrawn or adjusted otherwise.