TMI BlogRevised Guidelines for determination / verification of the Present Market Value (PMV) under DEPB SchemeX X X X Extracts X X X X X X X X Extracts X X X X ..... ion / verification of the Present Market Value (PMV) under DEPB Scheme Attention is invited to Circular No. 15/97-Csu dt. 3.6.97. The instructions contained in Para 3, 4, 5 of the above Circular, in sofar as they relate to verification of the Present Market Value (PMV) under DEPB Scheme, are hereby superceded by the Guidelines in this Circular :- 1. As you are aware para ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... se duty, Sales tax and other local taxes plus cost of transportation. Accordingly the amount of credit is to be restricted with reference to the domestic price of the product, and not with reference to the FOB price declared on the GR From/ Shipping Bill. 3. Determination of PMV (i) Manufactures Exporters (a) As regards Manufacturers- Exporters who export under AR4 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... products, the price indicated on the price list/ catalogue shall be accepted as PMV. 4. (ii) Merchant Exporters (a) In the case of export goods purchased from the open market, or from a Manufacturer, the PMV will accepted on the basis of Guidelines in paras (a) to (b) of para 3(1) ibid. (b) In case the PMV of the goods can not be determined as per the para above, the exp ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... FOB value through market enquiries should be specifically assigned to the SIIB and not the assessing officer. The enquiry must be completed and final view taken in 30 days. 7. In all case where no Show Cause Notice challenging the declared PMV is issued within 30 days from the date of export, the PMV declared shall be deemed to have been accepted. 8.Under no circumstances will the sh ..... X X X X Extracts X X X X X X X X Extracts X X X X
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