I want to know about DEPB, what is the Rate of tax under GST act?

Sir, i want to know about the DEPB ( duty entitlement passbook license ) whether it is covered into Goods or services and the what is the Rate of tax under GST act?

Add Comment
1 Answer(s)

“DEPB (Duty Entitlement Pass Book ) is an export incentive scheme of Indian Government provided to Exporters in India.[1] Duty Entitlement Pass Book Scheme in short DEPB is an export incentive scheme. Notified on 1/4/1997, the DEPB Scheme consisted of (a) Post-export DEPB and (b) Pre-export DEPB. The pre-export DEPB scheme was abolished w.e.f. 1/4/2000. Under the post-export DEPB, which is issued after exports, the exporter is given a duty entitlement Pass Book Scheme at a pre-determined credit on the FOB value. The DEPB rates allows import of any items except the items which are otherwise restricted for imports. Items such as Gold Nibs, Gold Pen, Gold watches etc. though covered under the generic description of writing instruments, components of writing instruments and watches are thus not eligible for benefit under the DEPB scheme.”

Answered on July 6, 2017.
Add Comment

Your Answer

Gen GST