TMI BlogDEPB Scheme - Present Market Value (PMV) of Export Goods - Parameters for Verfication by CustomsX X X X Extracts X X X X X X X X Extracts X X X X ..... d in the new Export 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... racting credit at the rate of 15% 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 Taxe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... goods as is done in the case 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 th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... one month of "let export order" Shipping Bills should be finally assessed and only then released to the exporter to enable him to get his DEPB entitlement from the licensing authority. 6. Suitable Public Notice and Standing Order, bringing out aforesaid changes to the notice of exporting community and field formations may please be issued. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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