POL CIR NO. 55/(RE-98)1997-1999 DT 10-12-1998
- Document type
- Circular
- Reference no.
- B
- Dated
INCLUSION OF COMMISSION IN THE FOB VALUE FOR CALCULATION OF DEPB.
- Sub:
- Inclusion of commission in the FOB value for calculation of DEPB entitlement.
Representations have been received that the element of commission paid to foreign buyer or agent of the foreign buyer may not be excluded from the FOB value while calculating the DEPB entitlement.
The matter has been examined and it has been observed that for drawback entitlement, the FOB value, inclusive of the foreign agents commission, is taken into account. It has therefore been decided that the total FOB value inclusive of foreign agents commission (upto the specified limit prescribed by RBI) be taken while calculating DEPB entitlement also.
This issues with the approval of DGFT.
(Ajay Sahai)
Jt.Director General of Foreign Trade
(Please refer CUS CIR NO. 64/2003 DATE 21/07/2003)