For the purpose of calculation of the Net Foreign Exchange earned on exports, the value of all the licences including the value of 2.5 times of the DEPB Credit earned/ granted and the value of duty free gold/ silver/ platinum taken from nominated agency or from foreign supplier shall be deducted from the FOB value of exports made by the person. However, the value of freely transferable SIL, EPCG licences and the value of licences surrendered during the validity of licence shall not be deducted.