The Directorate General of Foreign Trade (DGFT) under the Ministry of Commerce has withdrawn the DEPB benefit, available to cotton exporters.
Vide a notification; DGFT announced that, cotton exporters will not be allowed benefits under DEBP, with respect to shipments made on or after April 21, 2010.
Benefit under DEPB scheme encourages export of concerned commodity. Hence when the intention of the Government is not to encourage exports of a specific commodity, DEPB benefit on such a commodity would be contradictory to its intention.
The DEPB benefit on export of cotton yarn was withdrawn with effect from April 21, 2010; hence, DEPB benefit on cotton (the basic raw material for cotton yarn) has been disallowed for exports made from April 21, 2010 onwards.
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