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<h1>New Guidelines Limit DEPB Credit to 50% of Present Market Value for Exports with 10%+ DEPB Rate</h1> The circular revises guidelines for determining and verifying the Present Market Value (PMV) under the Duty Entitlement Pass Book (DEPB) Scheme. It mandates that for export products with a DEPB rate of 10% or higher, the DEPB credit entitlement shall not exceed 50% of the PMV. Consequently, Customs authorities are required to verify the PMV of such products before granting DEPB benefits. Previous circulars on this matter are amended accordingly to reflect these changes.