KARACHI: The Directorate General of Customs Valuation has revised the customs values of PVC hosepipes through Valuation Ruling No 1010/2017 under Section 25A of the Customs Act, 1969.
According to details, the values of PVC hosepipes for reference/guidance were earlier issued vide VDB No.108/2016 on November 30, 2016. However, several representations were received from commercial importers for determination of customs values of PVC hosepipes afresh, considering the current international prices.
The commercial importers stated that the prices of subject items are showing downward trend in the international markets. The viewpoint of all participants was heard in details and considered to arrive at customs values of PVC hosepipes. Methods provided in Section 25 of the Customs Act, 1969 were duly applied in their regular sequential order’ to address the particular valuation issue at hand.
The transaction value method as provided in Sub-Section (1) of Section 25, found inapplicable in light of the wide variety of invoices submitted at import stage the veracity of which could not be ascertained fully. Hence requisite information required under law was not available to arrive at the correct transaction value.
Identical / similar goods value method provided vide Sub-Sections (5) & (6) of Section 25 ibid were examined for applicability to determine Customs value of subject goods, this data provided some references, however, it was found that the same cannot be solely relied upon due to the absence of absolute demonstrable evidence of qualities, and quantities of commercial level etc., and also it was observed that importers usually provided misleading description while declaring goods, as other types and varieties of similar goods to avoid the application of valuation ruling. Information available was, hence, found inappropriate. In line with the statutory sequential order of Section 25, this office then conducted a market inquiry using deductive value method under Sub-Section (7) of the Section 25 of the Customs Act. 1969. However, it was found that the determination of Customs value could not be based solely upon this method either.