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Q.14
WHO MONITORS THE DEPB?
Ans: The Regional Licensing Authorities shall monitor
the cases where the DEPB has been granted prior
to realisation of export proceeds so as to ensure that
realisation takes place within the prescribed time,
failing which they shall initiate action for recovery
of an amount equivalent to DEPB credit with 24% interest.
The recovered amount in such cases shall be deposited
in the Head of Account of Customs as stated in paragraph
7.29.
In such cases where the application for grant of DEPB
credit is filed after realisation of export proceeds,
the FOB value in free foreign exchange shall be converted
into Indian rupees as per authorised dealers T/T
buying/on demand buying rate, as the case may be, prevalent
on the date of realisation of proceeds. The DEPB rate
of credit shall be applied on the FOB value so
arrived. The CIF value of imports effected under the DEPB
shall not exceed the FOB value against which the DEPB
has been issued.
The licensing authorities shall incorporate an endorsement
to this effect on the DEPB and shall also mention
the FOB value (in Indian rupees) on the DEPB.
Q.15 WHEN THE APPLICATION SHOULD BE FILED?
Ans: The application for obtaining credit shall be filed
within 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
has been filed.
Q.16
HOW MANY APPLICATIONS AN EXPORTER CAN MAKE?
Ans: 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.
Q.17 IF THE CUSTOMS HAS PASSED
THE SHIPMENT PROVISIONALLY, THEN HOW DO WE APPLY?
Ans: 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.
Q.18 WHAT DETAILS ARE MENTIONED
ON DEPB?
Ans: The licensing authority shall ensure that while
issuing the DEPB, the Shipping Bill no(s), FOB
value in Indian rupees as per Shipping Bill(s) and description
of export product are endorsed on the DEPB.
Q.19 CAN WE USE THE DEPB AS ISSUED
FROM LICENSING AUTHORITY?
Ans: No, 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.
The offsetting of DEPB issued on pre-export basis shall
be as per the provisions contained in Paragraph
7.44 to 7.49 of Handbook (Vol.1) (RE-99).
Q.20
HOW TO APPLY FOR DEPB FOR THE PRODUCT FOR WHICH RATES
ARE NOT AVAILABLE IN APPENDIX 28 A OF THE HANDBOOK?
Ans: No exports shall be allowed under DEPB scheme
unless the DEPB rate of the concerned export product
is notified.
Q.21 IF EP COPY OF THE SHIPPING
BILL IS LOST,CAN WE NOT GET DEPB?
Ans: In case where EP copy of the Shipping Bill has
been lost, the DEPB claim can be considered subject
to submission of the following documents.
* A duplicate/Certified copy of the Shipping Bill issued
by the Customs authority
in lieu of original.
* An application fee equivalent to 10% of the DEPB entitlement
in respect of lost Shipping Bill. However, no fee
shall be charged when the Shipping Bill is lost by the
Government agencies and a documentary proof to this
effect is submitted.
* All the other prescribed documents,in original.
* An affidavit by the exporter about the loss of Shipping
Bill and an undertaking to surrender it immediately
to the concerned licensing authorities, in case the
same is found subsequently.
* An indemnity bond is to be executed by the exporter
to the effect that he would indemnify the Government
for the financial loss if any on account of DEPB issued against
lost Shipping Bill.
The Customs authority before allowing clearance shall
ensure that no DEPB benefit has been availed against
the same Shipping Bill.
The claim against the lost Shipping Bill shall be preferred
within a period of six months from the date of
export and application received thereafter will be rejected.
Q.22
WHAT HAPPENS IF BANK CERTIFICATE IS LOST?
Ans: In such cases where original bank certificate has
been lost, the DEPB claim can be considered subject
to submission of following documents:
* A duplicate copy of the Bank Certificate issued by
the bank authority in lieu of original loss.
* An application fee equivalent to 10% of the DEPB entitlement
in respect of lost bank certificate.
* All the prescribed documents in original.
* An affidavit by the exporter about the loss of Bank
Certificate and an undertaking to surrender it
immediately to the concerned licensing authorities,
in case the same is found subsequently.
* An indemnity bond is to be executed by the exporter
to the effect that he would indemnify the Government
for the financial loss if any on account of DEPB issued
against lost Bank Certificate. The claim against
the lost Bank Certificate shall be preferred within
a period of six months from the date of export and application
received there after will be rejected.
Q.23 WHAT HAPPENS IF THE EP COPY
OF THE SHIPPING BILL AND BANK CERTIFICATE BOTH ARE LOST?
Ans: In such cases, where both the documents have been
lost, the exporter shall follow the procedure laid
down in Answer number 21 & 22 as above.
Q.24 HOW DO WE GET THE RATE FIXED
FOR DEPB.
Ans: Appendix 52 prescribes the form regarding fixation
of DEPB rates. All applications for fixation of
DEPB rates shall be routed through the concerned Export
Promotion Council, which shall verify the FOB value
of exports as well as the international price of inputs covered
under SION.
Q.25 WHAT IS THE FUTURE OF DEPB?
Ans: The scheme is declared to be terminated by 31st
March 2002.
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