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Depb scheme licence

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Querist : Anonymous

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Querist : Anonymous (Querist)
23 October 2013 Can a DEPB (Duty entitlement passbook) be called a negotiable instrument under the Negotiable Instruments Act,1881? And if yes under what section or case law?
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RAMESH KUMAR VERMA

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RAMESH KUMAR VERMA (Expert)
23 October 2013 it is transferable.

Government has withdrawn DEPB Scheme with effect from 1.10.2011.

actually Under the 14-year-old DEPB scheme, the government spends annually about Rs 8,500 crore for re-reimbursing exporters on the taxes paid on import equivalent content of export products. (2012)
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
23 October 2013 Agreed with above expert.
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