https://www.taxtmi.com/circulars?id=966 Exporters under the DEPB scheme must declare the Present Market Value (PMV) in the Shipping Bill, inclusive of excise, sales tax and other local taxes and above the FOB/AR-4 price. Customs shall verify description, quantity, FOB value and the declared PMV against AR-4, excise or dealer invoices, known market prices or enquiries. If PMV or FOB appears prima facie excessive, the examining officer may refer the matter with samples to the Assistant Commissioner (Export), who may order market enquiries to determine PMV so that credit entitlement does not exceed fifty percent of actual PMV; provisional clearance and one month enquiry timelines apply. en-us Tue, 03 Jun 1997 00:00:00 +0530 Thu, 31 Jul 2025 15:06:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=966 Exporters under the DEPB scheme must declare the Present Market Value (PMV) in the Shipping Bill, inclusive of excise, sales tax and other local taxes and above the FOB/AR-4 price. Customs shall verify description, quantity, FOB value and the declared PMV against AR-4, excise or dealer invoices, known market prices or enquiries. If PMV or FOB appears prima facie excessive, the examining officer may refer the matter with samples to the Assistant Commissioner (Export), who may order market enquiries to determine PMV so that credit entitlement does not exceed fifty percent of actual PMV; provisional clearance and one month enquiry timelines apply. Circulars Customs Tue, 03 Jun 1997 00:00:00 +0530 https://www.taxtmi.com/circulars?id=966