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DG Valuation Surriya to revise VR No 792/2016 on February 20

DG Valuation Surriya to revise VR No 792/2016 on February 20

KARACHI: Directorate General, Customs Valuation, Director General Surriya Ahmed Butt has decided to revise the Valuation Ruling No: 792/2016 on February 20, 2018, it is learnt.

According to the details, Surriya Butt has said that the department was reviewing suggestions from various importers to set new prices of food supplements, (drinking Powder Milo, Bourn vita, Oval tine, Complan and extra). She said that some valuations, which were issued in 2016, were being reviewed from the beginning.

Moreover, the valuations will be set in view of rising prices in the international market. Sources told that a petition was submitted before the Customs Valuation in which change in prices of Foods supplements   was requested.

Sources said that Valuation Ruling No: 792/2016 was issued on January 11, 2016. A meeting was held with the stakeholders on 8 January 2018.

Importers were told to furnish the import invoices of the last three months showing factual values as well as websites, names and e-mail addresses of known foreign manufacturers of the item in question through which the actual current value could be ascertained.