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of <h1>Revised Guidelines for DEPB Credits: Use FOB Value Unless Specific Evidence of Over-Valuation Detected, Avoiding Export Delays.</h1> The circular addresses the issue of over-valuation under the DEPB scheme, where exporters inflated FOB values to gain undue benefits. Initially, DEPB credits were based on the present market value (PMV) if it was lower than the FOB value. However, this led to delays and complaints from exporters. The revised guidelines state that FOB value should generally be the basis for DEPB credits, except in cases of specific intelligence or evidence of over-valuation, which require market verification. Such verifications should be conducted with the Commissioner's approval and not routinely, ensuring no undue delays or harassment in export processes.
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