Base for computation of the DEPB rate when the exchange rate on the date of “let export” exceeds the actual realisation rate

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..... ADE POLICY CIRCULAR NO 17/2002-2007, Dt. 09/01/2003 As per para 4.43 of the Handbook of Procedures (Vol 1) the exchange rate to be used for conversion of the foreign currency receipts into equivalent rupees for computation of the credit under the DEPB Scheme would be the same rate as notified by Ministry of Finance relevant to the date of order of "let export" by the Customs. Accordingly, .....

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..... arefully, it has been decided that uniformity and consistency in our policy would dictate accepting the Ministry of Finance's notified exchange rate for all our transactions. This is reiterated for the information of all the regional licencing authorities, who may take action accordingly. This issues with the approval of the Director General of Foreign Trade . A.B. Menon Deputy DGFT (File N .....

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