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DG Valuation issues reference values for Oxytetracycline capsule, chewing gum

DG Valuation issues reference values for Oxytetracycline capsule, chewing gum

Karachi: The Directorate General of Customs Valuation has issued the reference values for Oxytetracycline capsule and chewing gum.

According to details, Customs Valuation has initiated an exercise to develop database values for different items wherein it has been observed that declarations are of wide range and do not correctly reflect values of the items as traded in the international market.

During the scrutiny of previous clearance data, it has been observed that Oxytetracycline capsule falling under PCT headings 3004.2000 are being assessed at different values and certain transactions are on very low side.

Customs 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.

The Directorate of Customs Valuation has found that the customs values of Oxytetracycline capsule tin packing China origin US$ 8.00 per kilogram and Oxytetracycline capsule blister packing China origin US$ 7.553 per kilogram.

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 of the subject items. If further fine-tuning in specifications and ensuing values are worksheets along with required, Collectorate may forward a reference along with detailed justifications so that requisite adjustments are accordingly issued.

Meanwhile, the Directorate General Customs Valuation has corrected the valuation of chewing gum (H.S Code 1704.1000). Corrections have made in the Valuation Ruling No. 1000/2016 dated 22-12-2016, in terms of Section 206 read with Section 25-A of the Customs Act 1969. The new values of chewing gum other brands China origin US$ 1.90 per kilogram