DEPB incentives are likely to be restored

DEPB incentives are likely to be restored

According to recent news in the market, Indian steel producers, objecting to the recent increase in excise duties will soon be relieved through the restoration of Duty Entitlement Pass Book (DEPB) incentives regarding export of steel products. The fact that the DEPB incentives have not been in effect since February has put Indian steel producers into a difficult situation. Related steel associations such as Indian Steel Alliance (ISA) and Steel Ministry demanded government to restore DEPB incentives, especially after the recent increase in excise duties and the cut in customs duties on non-alloy steel. According to government sources, notification regarding restoration of DEPB incentives will soon be released by the Directorate General of Foreign Trade (DGFT).