Market verification for ascertaining the present market value under DEPB Scheme and admissibility of DEPB credit-reg

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....sent market value under DEPB Scheme and admissibility of DEPB credit-reg.             Attention is invited to Board’s Circulars No.15/97-Cus dated 3.6.1997, 69/97-Cus dated 8.12.1997, 79/98-Cus dated 22.10.1998, 23/99-Cus dated 11.5.1999 and 26/2001-Cus dated 24.4.2001. 2.         As per the exis....

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....eclared f.o.b. value is more than the present market value as declared by the exporter or as ascertained by the Customs authorities, the present market value shall be the basis for granting DEPB credit. Further, this principle will be applied to all export products whether their rates are less than 10% or are 10% or above 10%. 5.         As per the existi....

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....tatement or suppression of facts, he may extend the period of 3 months till such further period as is deemed necessary after recording the reasons thereof in writing. 6.         It has been brought to the notice of the Board that in many cases the intelligence regarding over-valuation of the exports is received much after the exports. Therefore, the exist....