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DG Valuation Surriya to revise VR No 801/2016 on 31st October

DG Valuation Surriya to revise VR No 801/2016 on 31st October

KARACHI: Directorate General, Customs Valuation, Director General Surriya Ahmed Butt said that the department is receiving two or three applications daily from importers to set new prices of different goods. She said that the department carefully consider the suggestions before issuing new valuation ruling or reviewing a valuation.

Meanwhile, Surriya Ahmed Butt has decided to revise the Valuation Ruling No: 801/2016 on October 31, it is learnt. Surriya Butt said the department was reviewing suggestions from importers to set new prices. She said that some valuations, which were issued in 2015 and 2016, were being reviewed from the beginning.

Moreover, the valuations will be set in view of rising prices in the international markets. Sources told reporters that a petition was submitted by the importers to Customs Valuation in which change in prices of non dairy topping cream was requested.

Sources said the Valuation Ruling No: 801/2015 was issued on January 22, 2016. A meeting was held with the stakeholders on October 4, 2017. 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