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DG Valuation rejects revision of VR No 1014 & 1027/2017

DG Valuation rejects revision of VR No 1014 & 1027/2017

KARACHI: Customs Valuation Director General Surriya Butt rejected revision of Valuation Ruling No.1014/2017 and 1027/2017 and upheld the values dates and hot melts adhesive granules, chips and pellets determined vide the said valuation rulings.

Source told Customs Today that M/s Muneer Associates and others importers approached Director General Customs Valuation praying that the Valuation Ruling No.1014/2017 does not cover the present fluctuation of prices in international market which have been reduced to about half of the prices.

The Director General noted that importers had failed to prove with conclusive evidence that the values worked out in the impugned ruling were on higher side.

On the other hand, the department presented details of valuation exercise conducted to determine customs values of dates and hot melts adhesive granules, chips and pellets.

Perusal of case record and the defense of the department reveal that the Directorate of Customs Valuation while issuing the impugned valuation ruling associated the importers including the petitioners.

Further, the values of subject goods have already been rationalized by the department while revising the previous valuation ruling and notifying the impugned ruling.