| Date: |
16-01-2002
|
| Notification No: |
Customs Circular No 4/2002
|
| Issuing Authority: |
Indian Customs
|
| Type: |
Circular
|
| File No: |
|
| Subject: |
Time limit for market verification of the Present Market Value (PMV) under DEPB Scheme
|
|
Time limit for market verification of the Present Market Value (PMV)
under DEPB Scheme
Circular No. 4 dated 16th
January 2002
Attention is invited to Circular Nos. 69/97-Cus.
dated 8.12.97 and its amending Circular No. 79/98-Cus. dated 22.10.98. As per
these Circulars, the maximum period of challenging the Present Market Value (PMV)
is 90 days, if not, the PMV shall be deemed to be accepted.
2. However,
representations have been received from the field formations that in case of
frauds and cases involving suppression of facts, such verification take much
longer time for the investigation to be completed and hence it is not possible
to issue show cause notice within 90 days. It has, therefore, been decided that
in case of frauds/ willful suppression of facts show cause notices challenging
the PMV may be issued even beyond the period of 90 days.
3. Suitable
instructions/ Standing Order may be issued for the guidance of Trade/ Field
staff.
4.
Receipt of this Circular may please be acknowledged.
|
|
|