Subject :     Revised Guidelines for determination/ verification of the Present Market Value (PMV) under DEPB Scheme - Reg.

        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.