Applying for a Duty Exemption Passbook (DEPB) is a crucial step for exporters to claim duty drawback benefits on their exports. DEPB is a scheme offered by the Indian government to promote exports and make Indian products more competitive in the international market.
The DEPB scheme was introduced in 1997 and has since played a significant role in boosting India’s exports. The scheme allows exporters to claim duty drawback on the customs and excise duties paid on the imported inputs used in the manufacturing of export products. This helps exporters reduce their overall production costs and enhance their profitability.
