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DG Valuation issues Valuation Ruling No 1198/2017

DG Valuation issues Valuation Ruling No 1198/2017

KARACHI: The Directorate General of Customs Valuation has revised the customs values of glass-lid for cookware vide Valuation Ruling No 1198/2017 under Section 25-A of the Customs Act, 1969.

Currently, no valuation instrument (u/s 25A of Customs Act, 1969) was available for the subject item. M/s Gujranwala Chamber of Commerce and Industry vide their reference No Rec/2017/11/926 dated 16-02-2017 and No. Rec/2017/11/1040 09-03-2017 reported consistent under valuation and requested to determine the actual Customs values for glass-lids (used for non-stick and ceramic coating products) under Section 25A of Customs Act, 1969.

Meetings with stakeholders (manufacturers and importers) were held on 10-05-2017 and 23-05-2017. Duly authorized representative of M/s Gujranwala Chamber of Commerce and Industry appeared and submitted that raw material of glass lid for cookware is float glass and while the import value of float glass has been enhanced recently, but on the contrary, glass lid is being imported on quite a lower value as compared to values determined for raw materials (float glass sheets subjected to heat resistance procedures and finishing etc).

Furthermore, M/s Gujranwala Chamber of Commerce and Industry also contended to issue customs valuation of subject item keeping in view the prevailing higher valuation trends in international markets. The stakeholders were requested to furnish invoices of imports during last three months showing factual value.

Websites, names and e-mail addresses of known foreign manufacturers of the item in question through which the actual current value can be ascertained.

Copies of contracts made / LCs opened during the last three months showing the value of item in question.

Copies of sales tax invoices issued during 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.

No commercial importers or traders appeared on hearing dates, nor are any requisite documents received except from the representative of M/s. Gujranwala Chamber of Commerce and Industry.