Friday , July 19 2019
Breaking News
Home / Karachi / DG Valuation revises customs values of kitchen cabinets in CDK, SKD & CBU condition
DG Valuation revises customs values of kitchen cabinets in CDK, SKD & CBU condition

DG Valuation revises customs values of kitchen cabinets in CDK, SKD & CBU condition

KARACHI: The Directorate General of Customs Valuation has revised the customs value of  kitchen cabinets in CKD/SKD/CBU condition  and accessories vide Valuation Ruling No 1340/2018 under Section 25-A of the Customs Act, 1969.

According to the details, it was brought to the notice of Directorate General Customs Valuation that values of kitchen cabinet in CKD/SKD/CBU condition and accessories thereof are being declared to customs at much lower values than the current international values.

It was also observed that certain importers were also declaring incorrect and incomplete description of the goods. Verifications by Directorate General reaffirmed this position. Keeping this in view, the Directorate General initiated an exercise of the customs values of the kitchen cabinets in CKD/SKD/CBU condition a accessories thereof in terms of Section 25-A of the Customs Act, 1969.

A number of ‘meetings with stakeholders, including importers and representatives from field formations, were held to discuss the current international prices of the subject goods.

The importers / stakeholders were requested to submit invoices of imports during last three months showing customs 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 their contentions.

M/s Prestige Kitchens stated that they are regular importers of kitchen cabinets of Italy origin. They stated that the kitchen cabinets of other European origins are being cleared on much lower prices than the prices prevailing in international markets.

They contended that the prices of the kitchen cabinets of Western Europe origin, in the international as well as local markets, are almost same whereas, at clearance stage vast difference in values of similar goods of these origins is observed.

Some importers also pointed out that some unscrupulous elements are manipulating quantity of their goods and evade legitimate duty and taxes, as they clear appliances in the garb of accessories.