POL Cir No. 45(RE-98)/98-99 Dated 15-10-98
- Document type
- Circular
- Reference no.
- B
- Dated
DEPB Sheme-Credit under Escrow A/c Experts
Export Made Under Escrow Account-DEPB Benefits Granted
Attention is invited to policy circular No.12(RE-98)/98-99 dated 5th June 1998 wherein vide paragraph 5, it was clarified that exports made under counter trade agreement and export proceeds realised through "Escrow Accounts " in US $ is entitled for DEPB benefits.
Representations were received and the matter was referred to Ministry of commerce again. Ministry of commerce has consulted RBI in the matter again.
In modification of earlier clarification, it is clarified that exports made under counter trade agreement and export proceeds realised through "Escrow Accounts" in US $ are entitled for DEPB benefits.
This issues with the approval of DGFT.
Sd/-
Ajai Sahai)
Dy.DGFT