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Surriya Butt due to revise Valuation Ruling No: 986/2016 on May 15

Surriya Butt due to revise Valuation Ruling No: 986/2016 on May 15

KARACHI: Directorate General, Customs Valuation, Director General Surriya Ahmed Butt has decided to revise the Valuation Ruling No: 986/2016 on May 15, 2018, it is learnt.

Surriya Butt said that the department is reviewing suggestions from various importers to set the new prices of secondhand clothes, shoes and used leather bags, jackets, belts used toys and kitchen wares. She said that some valuations, which were issued in 2016, are 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 of above said articles was requested.

Sources further told CT that Valuation Ruling No: 986/2016 was issued on 6th of December 2016. A meeting was held with the stakeholders on April 11, 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.