1. Duty Entitlement Passbook Scheme

2.  Duty entitlement passbook scheme
 It is an export incentive scheme of Indian
Government provided to exporters in India.
 It is issued after export, at a predetermined
credit on the FOB value.
 It came into existence on 01041997, then
it had both pre-export and post-export DEPB.
The latter is abolished on 01042000.

3.  Thus the exporter is eligible to claim credit as
a specified percentage of value of exported
product and is available at a rate of exported
products as may be determined by the
Director General of Foreign Trade.
 The credit amount is entitled only to be
adjusted to the amount to be paid as customs
duty, and cannot be withdrawn or adjusted
otherwise.

4.  It is an optional facility for exporters not
desiring to go through the licensing routine.
 The aim is to neutralize the incidence of
customs duty on the import content of the
export product, by way of grant of duty credit
against the export product.

5.  Under this scheme, an exporter may apply for credit
as specified percentage of FOB value of
exports, made in freely convertible currency or the
payment made from the foreign currency account of
the SEZ.
 The DEPB or the items imported against it are freely
transferable.
 Normally the exports under the DEPB scheme shall
not be entitled for drawback, however the additional
customs duty paid in cash or through debit under
DEPB shall be adjusted as CENVAT Credit duty/ Duty
Drawbacks.