| Date: |
24-06-1999
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| Notification No: |
Customs Circular No 37/1999
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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 revised guidelines for determination/ verification of the Present Market: Value (PMV) under DEPB Scheme
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Regarding revised guidelines for determination/ verification of the
Present Market: Value (PMV) under DEPB Scheme
Circular No. 37 dated 24th June 1999
Attention is
invited to Circular No. 69/ 97-Cus. dated 8.12.97, as amended by Circular No.
79/ 98-Cus. dated 22.10.98 and Circular No. 23/ 99-Cus. dated 11th May, 1999.
2. Para
7.36A of the Handbook of Procedure, Vol. I pertaining to current Exim Policy has
been amended vide DGFT's Public Notice No. 10 (RE-99)/ 1997-2002 dated 7th June,
1999 to the effect that DEPB credit entitlement, in respect of export products
whose DEPB rate is 10% or more, shall not exceed 50% of the PMV of the goods.
3. Accordingly,
the PMV of all products exported under DEPB Scheme, wherever, the DEPB rate is
10% or more will need to be verified by the Custom House. Circular Nos. 15/
97-Cus. dated 3.6.97 and 69/ 97-Cus.dated 8.12.97 shall stand amended to this
extent.
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