Attention of trade is invited to Public Notice No.35 wherein para 7.38 of Handbook of Procedures, 1997-2002 has been amended. As per the revised procedures FOB value of applications filed under DEPB scheme credit should be calculated by converting the FOB value in free foreign exchange into Indian rupees as per the authorised dealers TT buying rate on the date of negotiations/purchase/collection of documents. The DEPB rate of credit shall be applied on the FOB value so arrived. All the DEPB applicants are requested to submit the Bank Certificates of exports and realisation with the following endorsement:

“This is to certify that export documents have been purchased/Negotiated/collected on__________ and the TT buying rate on this date is______.”

It is clarified that above endorsement is required even for the applications submitted after realization of export proceeds. It is, further clarified that above endorsement is required for all the cases where DEPBs have not been issued so far. However, where the file numbers have been given by this office prior to 29/9/2000, Exporters are not required to follow the above procedure.
 

( SUBRAT RATHO )
ZONAL JT. DIRECTOR GENERAL OF FOREIGN TRADE.