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of <h1>Revised DEPB Scheme Limits Credit to 50% PMV for High-Rate Exports with New Verification Rules</h1> The circular revises guidelines for determining and verifying the Present Market Value (PMV) under the DEPB Scheme, limiting credit entitlement to 50% of PMV for exports with DEPB rates of 15% or more to prevent inflated FOB prices. For manufacturer-exporters, PMV can be based on AR4 values, up to 150% of AR4 excluding excise duty, or on Maximum Retail Price or printed price lists/catalogues. Merchant exporters must base PMV on purchase prices or provide invoices and local price evidence if necessary. If PMV exceeds 150% of AR4 or is unverifiable, authorities may issue a Show Cause Notice after Deputy Commissioner approval. Market enquiries for verification are assigned to SIIB, with a 30-day completion target. Failure to challenge PMV within 30 days results in deemed acceptance. Shipments shall not be stopped or held during this process.
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