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Surriya Butt set to revise Valuation Ruling No: 765/2015 on April 9

Surriya Butt set to revise Valuation Ruling No: 765/2015 on April 9

KARACHI: Directorate General, Customs Valuation, Director General Surriya Ahmed Butt has decided to revise the Valuation Ruling No: 765/2015 on April 9, 2018, it is learnt.

Surriya Butt said the department was reviewing suggestions from various importers to set new prices of furnishing fabrics. She said some valuations issued in 2015 were being reviewed from the beginning.

Moreover, the valuations will be set in view of the rising prices in the international markets. Sources told Customs Today that a petition was filed with the Customs Valuation in which change in prices of furnishing fabrics was requested.

Sources further told CT that Valuation Ruling No: 765/2015 was issued on October 9, 2015. A meeting was held with the stakeholders on 23rd of February 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 item in question through which the actual current value could be ascertained.