https://www.taxtmi.com/circulars?id=1018 The circular directs that DEPB credit be limited with reference to the Present Market Value (PMV)-the domestic wholesale/retail price inclusive of local duties, taxes and transport-rather than FOB. AR4 values may be accepted as PMV for manufacturers; permissible uplifts over AR4, MRP, or printed price lists may be used without enquiry, but market enquiry is required where declared PMV exceeds acceptable uplift. Merchant exporters must furnish dealer invoices or local price evidence when PMV cannot be otherwise determined. SIIB shall carry out PMV/FOB verification (not the assessing officer) within a short statutory period; absence of a Show Cause Notice within that period results in deemed acceptance. Shipments shall not be detained for verification. en-us Mon, 08 Dec 1997 00:00:00 +0530 Fri, 08 Aug 2025 16:33:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=1018 The circular directs that DEPB credit be limited with reference to the Present Market Value (PMV)-the domestic wholesale/retail price inclusive of local duties, taxes and transport-rather than FOB. AR4 values may be accepted as PMV for manufacturers; permissible uplifts over AR4, MRP, or printed price lists may be used without enquiry, but market enquiry is required where declared PMV exceeds acceptable uplift. Merchant exporters must furnish dealer invoices or local price evidence when PMV cannot be otherwise determined. SIIB shall carry out PMV/FOB verification (not the assessing officer) within a short statutory period; absence of a Show Cause Notice within that period results in deemed acceptance. Shipments shall not be detained for verification. Circulars Customs Mon, 08 Dec 1997 00:00:00 +0530 https://www.taxtmi.com/circulars?id=1018