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DG Valuation to revise Rulings No: 783/2015 &784/2015 after 15 days

DG Valuation to revise Rulings No: 783/2015 &784/2015 after 15 days

KARACHI: The Directorate General Customs Valuation, Director General Surriya Ahmed Butt, has decided to revise the Valuation Rulings No: 783/2015 and 784/2015 after 15 days, it is learnt.

Sources told Customs Today that an application was submitted by the importers to customs valuation in which change in prices of medium density fiber board was requested.

Sources said that Valuation Ruling No. 783/2015 ginger and garlic issued on 28th of December 2015. A meeting was held with the stakeholders on July 20, 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.

Valuation Ruling No: 784/2015 polyester suiting fabrics was issued on 30th of December 2015. A meeting was held with stakeholders on July 20, 2017. Importers were told to furnish the import invoices of the last three months, showing factual values as well.

The copies of contracts were made/LCs opened during the last three months, showing the value of item in question and copies of sales tax invoices issued during the last four months showing the difference in price (excluding duty and taxes) to substantiate that the benefit of difference in price is passed on to the local buyers, were also sought.

During a meeting, the importers were of the view that the everyday technologies are being upgraded in electronics and its new versions are arriving in the market. Sources said that conform to the revised Valuation Ruling No: 783/2015 and 784/2015 after 15 days.