| Date: |
22-10-1998
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| Notification No: |
Customs Circular No 79/1998
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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. 79 dated 22nd
October 1998
Attention is invited to Circular No. 69/97-Cus. date
8th December, 1997. As per para 6 & 7 of this Circular, an enquiry/
investigation into the PMV of an export product must be completed and a final
view taken within 30 days.
2. However, the
field formations have reported that verification of PMV involving collection of
information/ data through market inquiry is the consuming. In Several Cases the
information has to be obtained through the concerned exporters who do not
readily co-operate. In view of these difficulties the inquiry can not be
completed in 30 days and show cause notice issued within prescribed time limit.
Having regard to these circumstances the Board has decided that when the
Commissioner of Customs is satisfied that it is necessary to extend the period
beyond 30 days to collect further information/ evidence, he may extend the
inquiry for a period not exceeding 90 days from the date of the Shipping Bill
and the show cause notice must be issued within the extended period of 90 days.
3.
Para 6 & 7 Circular No. 69/97-Cus, dated 8. 12. 97 shall stand
amended accordingly.
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