KARACHI: The Directorate General of Customs Valuation has fixed the customs values of coke through Valuation Ruling No. 753/2015.
The customs values of coke having H.S Code 2704.0010 were determined under Section 25-A of the Customs Act, 1969.
It may be mentioned here that the importers have been agitating that the prices of coke in international market have considerably decreased but the values in the ruling have remained static and high.
In a constitutional petition, the values in the same ruling had been argued and Sindh High Court (SHC) remanded that the specific case for re-determination of customs values of coke.
Moreover, the impugned valuation ruling was also old and a considerable time has passed, keeping in view the significant variation in the international prices of coke, the Directorate General of Customs Valuation initiated an exercise to re-determine customs value of coke afresh.
Coke Breeze (0 to 25mm) under PCT 2704.0010 of China, India, Middle East, and Far East would be assessed to duty and taxes at an average price as published in ‘coke market report – monthly plus $40 per metric ton on account of freight and other charges.
Coke Breeze (0 to 25mm) under PCT 2704.0010 of Europe, America and Canada would be assessed to duty and taxes at an average price as published in ‘coke market report – monthly) plus $45 per MT on account of freight and other charges.
Semi Coke (25mm to 80mm) under PCT 2704.0010 of China, India, Middle East and Far East would be assessed to duty and taxes at an average price as published in ‘coke market report – monthly plus $40 per MT on account of freight and other charges.
Semi Coke (25mm to 80mm) under PCT 2704.0010 of Europe, America and Canada would be assessed to duty and taxes at an average price as published in ‘coke market report – monthly plus $45 per MT on account of freight and other charges.
Foundry Coke and Metallurgical (Over 80mm) under PCT 2704.0010 of China, India, Middle East and Far East would be assessed to duty and taxes at an average price as published in ‘coke market report – monthly plus $40 per MT on account of freight and other charges.
Foundry Coke and Metallurgical (Over 80mm) under PCT 2704.0010 of Europe, America and Canada would be assessed to duty and taxes at an average price as published in ‘coke market report – monthly plus $45 per MT on account of freight and other charges.