4.45.1

If the export proceeds are not realised within six months or such extended period as may be allowed by RBI, the DEPB holder shall pay in case an amount equivalent to the duty free credit utilised on imports, including SAD (only in case SAD was exempt in case of imports under DEPB), against such exports with 15% interest from the date of import till the date of deposit. In such cases, where the amount realised in foreign exchange is less than the amount on which the DEPB credit has been obtained, the holder of DEPB shall pay, in cash, an amount proportionate to the duty free credit utilised on imports, including SAD (only in case SAD was exempt for imports under DEPB) with 15% interest from the date of import till the date of deposit.

(Para 4.45.1 has been amended vide PN. No. 39/2002-07, Dt. 08/10/2002)