Quantcast
Monday , September 25 2017
Breaking News
Home / Karachi / DG Valuation revises customs value of PE tarpauline vide VR No. 1195/2017
DG Valuation revises customs value of PE tarpauline vide VR No. 1195/2017

DG Valuation revises customs value of PE tarpauline vide VR No. 1195/2017

KARACHI: The Directorate General of Customs Valuation has revised the customs values of PE tarpaulin vide Valuation Ruling No 1195/2017 under Section 25A of the Customs Act, 1969.

According to the details, M/s MIS Kolachee International (local manufacturer) vide letter dated 14-04-2017 lodged a complaint regarding under invoicing in PE tarpaulin (Finished and unfinished). The local manufacture claimed that the import values of PE tarpaulin are on the lower side. Consequent upon representation by commercial importers, regarding revision of Valuation Ruling No.847/2016 dated 06-05-2016 for PE tarpaulin, an exercise was undertaken by this Directorate to revise the same according to trends prevailing in the international and local markets in terms of Section 25-A of the Customs Act, 1969.

Meetings were held on 22-05-2017, 14-06-2017 and 12-07-2017, with all the stakeholders including importer of subject goods and representatives of clearance Collectorate.

During the course of subject meetings, M/s Kolachee International (manufacturer) contested that the Customs Value of P.E Tarpaulin vide VR. No. 847/2016 dated 06/05/2016, should be enhanced as local production is of higher value and also local manufacturing is being affected due to large volume of import of PE Tarpaulin. The local manufacturer also furnished complete production model along with prevailing raw materials prices.

This helped deducting the material wise and production costing required for the manufacturing of PE Tarpaulin. On the other hand, Importer of subject goods i-e., MIS Paramount (Pvt) Ltd., submitted that PE Tarpaulin is already being imported on fair values. Therefore, any further enhancement of valuation would discourage .the import of subject item. In view of above situation, this Directorate General examined the import clearance data, scan prices of raw material (HDPE & LDPE etc), online prices prevailing in the international market and also conducted market inquiry for determination of customs value of PE Tarpaulin (finished & un-finished).