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DG Valuation Surriya Butt to revise VR No 878/2016 on June 4

DG Valuation Surriya Butt to revise VR No 878/2016 on June 4

KARACHI: The Directorate General, Customs Valuation Director General Surriya Ahmed Butt has decided to revise the Valuation Ruling No: 878/2016 on June 4, 2018, it is learnt.

Surriya Butt said the department was reviewing suggestions from various importers to set new prices of different kind of blankets. 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 the rising prices in the international market. Sources told Customs Today that a petition was filed with the Customs Valuation in which change in prices different types of blankets  were requested. Sources further said that Valuation Ruling No: 878/2016 was issued on 27th June, 2016. A meeting was held with the stakeholders on 13th April, 2018.

Importers were advised 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 items in question through which the actual current value could be ascertained.