KARACHI: Directorate General of Customs Valuation has issued the reference values for gasoline water pump and monoblock pump.
The Directorate General initiated an exercise to develop database values for different items wherein it was observed that declarations were of wide range and did not correctly reflected the values of the items as traded in the international market. During scrutiny of previous clearance data, it was observed that gasoline water pumps, falling under PCT heading 8413.7090, were being assessed at different values and certain transactions were on very low side.
The Directorate General Valuation, after carefully examining the clearance data, also conducted market inquiries to verify the authenticity of declarations. Online prices were also obtained to corroborate the findings of the market surveys. Therefore, it was found that the customs value of gasoline water pump of 5.5HP (low end brand) — China origin — was $54/per piece and gasoline water pump 6.5HP (low end brand) China origin was $67/per piece.
The Directorate General, after carefully examining the clearance data, also conducted market inquiries to verify the authenticity of declarations. Online prices were also obtained to corroborate the findings of the market surveys. This office, therefore, has found that the customs value of monoblock pump is 0.50 HP (low end brand) — China origin – is $19/per piece and monoblock pump 1HP (low end brand) — China origin – is $36.
These values are, however, for reference/guidance only and final assessment may please be made after considering other factors which have bearing on the customs value. The clearance collectorates may like to consider the values given above before finalizing the assessment o the subject items.
If further fine-tuning in specifications and ensuing values are required, Collectorate may forward a reference along with detailed justifications and worksheets so that requisite adjustments are accordingly issued.
In case of any grievance, the importer can file a request to the Directorate General along with substantial in evidences/record for reconsideration/review.