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of <h1>Customs Circular Urges Discretion in PMV Verifications to Avoid Export Delays and Complaints u/s 76(1)(b.</h1> The circular from the Central Board of Excise & Customs addresses concerns about routine Present Market Value (PMV) verifications under the Drawback Scheme, which are causing delays for exporters. It acknowledges potential resentment and harassment complaints due to these verifications. The Board emphasizes that PMV enquiries should be conducted only when there is a significant discrepancy between the declared Free on Board (FOB) value and the PMV, as per Section 76(1)(b). The circular advises exercising discretion to avoid unnecessary PMV enquiries that increase transaction time and costs for exporters. Operational staff at Customs Houses are instructed to be informed of these guidelines.
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