Infosys Declares 2-For-1 Split, Rs 5 Par Value

In a bid to prevent revenue leakages, the revenue department yesterday further tightened norms, including double verification by the customs authorities, under the Duty Entitlement Pass Book (DEPB) scheme.

In a separate notification, the department extended exemption on countervailing duty on import of 28 items utilised in marine exports. So far, this exemption was restricted to agriculture and aquaculture sectors. The marine items include a range of freezers, dehumidifiers, smoking kilns, fish driers, cold store doors and truck refrigeration units.

The department has pruned the maximum DEPB credit on a host of items like garments, computer peripherals, leather goods, sports goods and select chemical items from the prevailing 15 per cent to 10 per cent of the value of the export item.