Quantcast
Tuesday , October 17 2017
Breaking News
Home / Karachi / DG Valuation issues Valuation Ruling No 1210/2017
DG Valuation issues Valuation Ruling No 1210/2017

DG Valuation issues Valuation Ruling No 1210/2017

KARACHI: The Directorate General of Customs Valuation has revised the customs value of various types of cake (HS Code 1905.9000) vide Valuation Ruling No 1210/2017 under Section 25-A of the Customs Act, 1969.

Customs values of various types of Euro Cake were earlier determined and notified vide Valuation Ruling No.946/2016, dated 05-10-2016 and Order-in-Revision No.288/2017 dated.12-01-2017. It was deemed expedient to initiate an exercise to re-determine the customs value of subject goods with a view to made them reflective of the current prices prevailing in the international market.

Stakeholders’ participation in determination of Customs values: Meetings with stakeholders were scheduled on 27-07-2017 and 16-08-2017. The importers were requested to submit 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 one appeared for the meetings nor any documents submitted in this Directorate General on or after the said scheduled meetings.

Valuation methods provided in Section 25 of the Customs Act, 1969 were duly followed and applied sequentially to address the valuation issue at hand. Transaction value method provided in Sub-Section (1) of Section 25 was found inapplicable as the requisite information was not available as per law. Identical /Similar goods value methods provided in Sub-Sections (5) and (6) of Section 25 ibid were examined for applicability to determine customs values of the subject goods.