DEPB Scheme - Present Market Value (PMV) of Export Goods - Parameters for Verfication by Customs

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....xport and Import Policy for the period 1997-2002 Attention is invited to Circular No. 10/ 97-Cus dated 17th April, 1997 whereby detailed guidelines for operation of Duty Entitlement Pass-Book Scheme were issued. The said Circular provides for the exporters to declare in the Shipping Bill, the Serial No. of the export products in the Public Notice issued by the DGFT and the rate claimed. It was ....

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....5% or more, the amount of credit shall not exceed 50% of the present market value (PMV) of the export product. In order to ensure that this condition is properly implemented, exporters shall also be required to declare in the Shipping Bill filed under DEPB scheme the 'Present Market Value' of goods, which being inclusive of Excise duty, Sales Tax and other local Taxes is higher than the FO....

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....se of drawback shipping bills. Where upon examination of goods the examining officer finds that in view of the quality or condition of the goods prima-facie the PMV declared, or the f.o.b. price, is unduly high, the matter may be refered to the Asst. Commissioner (Export) along with sample of goods wherever possible. In such cases the PMV may be verified / determined through market enquiries, or b....