TRADE NOTICE NO.17/2001, DATE 08/01/2002
- Document type
- Circular
- Dated
- Category
- Trade Notices
Issue of DEPB for Drug Formulations under Serial No.37 & 40 of Chemicals -no final assessment from customs required.
TRADE NOTICE NO. 17/2001, Dt. 08/01/2002
Issue of DEPB for Drug Formulations under Serial No.37 & 40 of Chemicals -no final assessment from customs required.
It has been brought to the notice of this office that a large number of shipping bills are pending for issue of DEPB under Serial No.37 and 40 of Chemicals, primarily because Customs, at the time of passing these shipping bills, have provisionally assessed them pending clarification from Central Board of Excise & Customs. Some of the shipping bills carry an endorsement such as "assessed provisionally pending clarification for cap value" or "assessed provisionally pending clarification both regarding applicability of cap values and bulk drug formulations and calculation of DEPB rates" or such similar endorsements.
Now, it has been decided wherever the shipping bills were provisionally assessed pending clarification for cap values, in those cases DEPB can be issued by this office without any final assessment. However, wherever shipping bills were provisionally assessed for additional reason other than the one mentioned above such shipping bills needs final assessment from Customs.
This Trade Notice is issued as a facilitation measure since the Department of Revenue vide their letter No.605/95/99-DBK dated 29/11/2001 has clarified that no value cap will be applicable in case of both Serial Nos.37 and 40 of DEPB rate list pertaining to Chemicals and Allied Products in case of exports prior to 2/11/2001. However, this facility of issue of DEPB without final assessment of such shipping bills shall be available for applications submitted on or before 28/2/2002 only and application received thereafter will require final assessment from Customs.
( SUBRAT RATHO )
ZONAL JT. DIRECTOR GENERAL OF FOREIGN TRADE