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DG Valuation Surriya to revise VR No 938/2016 on May 18

DG Valuation Surriya to revise VR No 938/2016 on May 18

KARACHI: The Directorate General, Customs Valuation, Director General Surriya Ahmed Butt has decided to revise the Valuation Ruling No: 938/2016 on May 18, 2018, it is learnt.

According to details, Surriya Butt has said that the department was reviewing suggestions from various importers to set new prices of chemicals. She said 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 said that a petition was filed with the Customs Valuation in which change in prices of chemicals was requested.

Sources said that Valuation Ruling No: 938/2016 was issued on September 26, 2016. A meeting was held with the stakeholders on April 9, 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.