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DG Valuation revises customs values of steel files

DG Valuation revises customs values of steel files

KARACHI: The Directorate General of Customs Valuation has revised the customs value of steel files flat /half round/full  round  vide Valuation Ruling No 1283/2018 under Section 25-A of the Customs Act, 1969.

Earlier the Customs values of steel files flat /half round/full round were notified vide Valuation Ruling No.958/2016 dated 31-10-2016 and revised vide Order-in-Revision No. 312 dated 24-02-2017. However, it needed revision to reflect the current price trend prevailing in international market. This prompted an exercise to re-determine the Custom values of the subject goods under Section 25-A of the Customs Act, 1969.

Numerous stakeholders meetings were held in this Directorate General. The participants had been requested to submit documents before or during the stakeholders meetings.  Invoice of imports made during last three months showing factual value.

Websites names and e-mail address of known foreign suppliers / manufacturers 01 the ll item in question through which the actual current value could be ascertained.

Copies of contracts made / LCs opened during the last three months showing  the value of  items in question. ) Copies of Sales Tax paid invoices issued during last four months (excluding duty and taxes) to substantiate the contentions of the importers

Different stakeholders including importers and officers from clearance Collectorate attended the meetings. Representatives of Collectorate stated that the values are suppressed. Importers on the other hand, requested to decrease values of steel files flat /half round/full round. They, however, did not submit any documentary evidence in support of their contentions despite ample time given to them.

Valuation methods given in Section 25 of the Customs Act, 1969 were applied sequentially to address the valuation issue at hand. Transaction Value Method under Sub-Section (1) of Section 25 of the Act ibid was found inapplicable because required information under the law was not available. Identical and Similar Goods valuation methods provided in Sub-Sections (5) and (6) of Section 25 of the Customs Act, 1969 provided some reference values but due to wide variations in the declarations the same could not be relied upon exclusively. In line with the statutory sequential order of Section 25, this office then conducted market inquiries using Deductive Value Method under Sub-Section (7) of the Section 25 of the Customs Act, 1969 and customs values of Customs values of Steel Files Flat Bastard/Half Round/Full Round are determined under Sub-Section (7) of Section 25 of the Customs Act, 1969.