| Date: |
20-05-1998
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| Notification No: |
Customs Circular No 37/1998
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| Issuing Authority: |
Indian Customs
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| Type: |
Circular
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| File No: |
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| Subject: |
Circular No. 37 dated 20th May 1998
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|
Circular No. 37 dated 20th May 1998
A doubt had arisen regarding the relevant exchange
rate for determining FOB value of Exports, for the purpose of calculation of
DEPB entitlement of an exporter, since the DEPB entitlement is calculated as a
percentage of the relevant FOB value.
2. The issue has
been examined in the Board, and it has been decided that the relevant exchange
rate for determining FOB value will be as laid down in para 7.38 of the Handbook
of Procedures, Vol. I, pertaining to the Exim Policy 1997-2002 as amended upto
13.4.98.
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