Quantcast
Thursday , September 21 2017
Breaking News
Home / Karachi / DG Customs Valuation to revise Valuation Ruling No: 714/2015 by September 12
DG Customs Valuation to revise Valuation Ruling No: 714/2015 by September 12

DG Customs Valuation to revise Valuation Ruling No: 714/2015 by September 12

KARACHI: Directorate General, Customs Valuation, Director General Surriya Ahmed Butt, has decided to revise the Valuation Rulings No: 714/2015 by September 12, it is learnt.

Surriya said the department is reviewing suggestions from importers to set new prices. She further said some valuations, which were issued in 2015, were viewing from the beginning. Moreover, the valuations will be set in view of rising prices in the international markets.

Sources told Customs Today that an application was submitted by the importers to Customs Valuation in which change in prices of mosquito coil and aerosol insecticide spray was requested. Sources said the Valuation Ruling No. 714/2015 mosquito coil and aerosol Insecticide was issued on February 2, 2015.

A meeting was held with the stakeholders on August 16, 2017. Importers were told to furnish the import invoices of the last three months showing factual values as well as websites, names and e-mail addresses of known foreign manufacturers of the item in question through which the actual current value could be ascertained.

The copies of contracts were made/LCs opened during the last three months showing the value of item in question and copies of sales tax invoices issued during the last four months showing the difference in price (Excluding duty and taxes) to substantiate that the benefit of difference in price is passed on to the local buyers.