| Date: |
27-09-2002
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| Notification No: |
Customs Circular No 63/2002
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| Issuing Authority: |
Indian Customs
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| Type: |
Circular
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| File No: |
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| Subject: |
Regarding Market verification for ascertaining the present market value under DEPB Scheme and admissibility of DEPB credit-
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Regarding Market verification for ascertaining the present market value
under DEPB Scheme and admissibility of DEPB credit-
Customs
Circular No. 63 dated 27th September 2002
Attention
is invited to Board�s Circulars No.56/2002-Cus dated 9.9.2002, wherein it was
clarified that wherever, the declared 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%.
2. It is, however, clarified that the field
formations should not resort to any indiscriminate and routine market
verification in all the cases. Market verification should be undertaken only in
suspect cases and especially where there is blatant export of sub-standard
goods. Market verification can also be initiated in select cases in respect of
consignments entered for export to sensitive destinations, wherein there are
reasons to believe that the acceptance of the declared value would result in
accrual of substantial unintended DEPB benefits.
3. This should be ensured that the market
verifications are expeditiously concluded and no harassment is caused to the
trade nor are any exports held up.
4. Suitable public notices for information of
the trade and standing orders for guidance of the staff may kindly be issued
accordingly.
5.
The receipt of this Circular may kindly be acknowledged.
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