KARACHI: The Directorate General of Customs Valuation revised the customs values of sticker paper (non-thermal) semi- gloss in reels through Valuation Ruling No: 1333/2018 under Section 25-A of the Customs Act-1969.
According to the details, it was brought to the notice of Directorate General, that sticker paper (non-thermal) semi gloss in reels is being assessed at lower values therefore an exercise was initiated to determine the customs values in the light of current international market price trend.
Meetings with stakeholders were held on 31-05-2018, 05-07-2018 and 05-09-2018. The stakeholders were requested to furnish 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 item in question. Copies of sales tax invoices issued during last four months showing the values of supplies (excluding duty and taxes) to substantiate their contentions.
During the course of meeting, the stakeholders admitted that certain importers are declaring values of sticker paper (non-thermal) semi-gloss in reels much lower than actual transaction values. The participants were requested to submit all related evidences in support of their claims.
Valuation methods given in Section 25 of the Customs Act, 1969 were followed to arrive at customs values of sticker paper (non-thermal) semi-gloss in reels.