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DG Valuation revises customs value of safety pin made of iron and steel

DG Valuation revises customs value of safety pin made of iron and steel

KARACHI: The Directorate General of Customs Valuation revised the customs value of safety pin made of iron and steel China origin through Valuation Ruling No 1093/2017 under Section 25A of the Customs Act, 1969.

According to details, earlier the Directorate General conducted an audit of clearance values of subject goods and found the same to be on lower side in comparison with the international trading prices and the local selling prices. As an immediate remedial measure, this Directorate General circulated customs value of safety pin made of iron and steel Chinese origin as one of the risk assessment measures vide Valuation Database letter No.78 dated 17-11-2016.

MCC Appraisement (West) vide their letter No.SI/Misc/08/2017-V dated 28¬01-2017 also forwarded their proposal with enclosed copies of their working paper for determination of customs values of safety pin made of iron and steel Chinese origin. They also sought reduction of assessable value vide a valuation ruling so that uniform application of values could be affected without any discrepancies.

The Directorate General initiated an exercise for determination of customs values of Chinese origin Safety Pin made of iron and steel under section 25A of the Customs Act, 1969.

A meeting was scheduled on 09-03-2017 but nobody attended the said meeting. All the stakeholders 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 in question.