Attention of all exporters is invited to the changes made in the provisions related to DEPB Scheme in the new Export Import Policy, 2002-2007 particularly to Para 4.43 of Handbook of Procedures which reads as:

"4.43-An application for grant of credit under DEPB may be made to the licensing authority concerned in the form given in Appendix-10C along with the documents prescribed therein. The FOB value in free foreign exchange shall be converted into Indian rupees as per the exchange rate for exports, notified by Ministry of Finance, as applicable on the date of order of “ Let Export ” by the Customs. "

To reflect the above changes in calculations of DEPB entitlement, the application form is also changed and new form is available in Appendix 10-C. Henceforth the DEPB applicants are requested to apply in the new format only. It is further informed that the Ministry of Finance issues Customs Notifications ( NT ) every month intimating the exchange rates applicable for a particular month. Exporters are requested to refer these Notifications.

It is, further informed that a number of DEPB Serial Numbers have been changed in the new Export Import Policy 2002 - 2007. All exporters are requested to make separate applications for exports made during 1997 - 2002 Policy and exports made under 2002 - 2007 Policy. Separate applications are required as DEPB serial numbers and rates are different for most of the products under the two different Policy periods. This is also required to avoid Computer Software problems and other technical problems in this office.

(Pl. See Trade Notice No. 02/2002, Dt. 05/04/2002 - Instructions for filing new applications)

Sd/-
( SUBRAT RAHTO )
ZONAL JT. DIRECTOR GENERAL OF FOREIGN TRADE
AND ADDITIONAL EXPORT COMMISSIONER., MUMBAI.