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DG Valuation Surriya Butt rejects revision of VR No 952 & 953

DG Valuation Surriya Butt rejects revision of VR No 952 & 953

KARACHI: Customs Valuation Director General Surriya Butt has rejected revision of Valuation Ruling No.952 and 953/2016 and upheld the values of sauces, salad dressing mayonnaise, mustard and tomato ketchup and another value of bearings, determined vide the said valuation ruling.

Source told Customs Today that M/s Salman Traders, M/s Muniba Enterprises and others approached Director General Customs Valuation praying that the Valuation Ruling No.952, 953/2016 does not cover the present fluctuation of prices in international market which have been reduced to about half of the prices.

Director General noted that importers had failed to prove with conclusive evidence that the values worked out in the impugned ruling were on higher side. On the other hand, the department presented details of valuation exercise conducted to determine the value of  sauces, salad dressing mayonnaise mustard and tomato ketchup and another value of bearings.

Perusal of case record and the defense of the department reveal that the Directorate of Customs Valuation while issuing the impugned valuation ruling associated the importers including the petitioners. Further, the values of subject goods have already been rationalized by the department while revising the previous Valuation Ruling and notifying the impugned ruling. Source said that at least 16 petitions submitted by different importers are in pending.