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DG Surriya to revise Valuation Rulings No: 954/2016 and 955/2016

DG Surriya to revise Valuation Rulings No: 954/2016 and 955/2016

KARACHI: The Directorate General Customs Valuation, Director General Surriya Ahmed Butt, has decided to revise the Valuation Rulings No: 954/2016 and 955/2016 next week, it is learnt.

Sources told Customs Today that an application was submitted by the importers to customs valuation in which change in prices of DVD players, recorders, was requested.

Sources said that Valuation Ruling No. 954/2016 DVD Players, Recorders, was issued on 14th October 2016. A meeting was held with the stakeholders on July 26, 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.

Valuation Ruling No: 955/2016 home and office furniture parts was issued on 25th of October 2016. A meeting was held with stakeholders on July 26, 2017. Importers were told to furnish the import invoices of the last three months showing factual values as well.

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, were also sought.

During a meeting, the importers were of the view that everyday technologies are being upgraded in electronics and its new versions are arriving in the market. Sources said that conform to the revised Valuation Ruling No: 954/2015 and 955/2015 next week.