KARACHI: Director General, Customs Valuation, Surriya Ahmed Butt, has decided to revise the Valuation Ruling No: 709/2015 on February 26, 2018, it is learnt.
Surriya Butt has said the department was reviewing suggestions submitted by various importers to set new prices of Polyester Yarn. She said some valuations issued in 2015 were being reviewed from the beginning.
Moreover, the valuations will be set in view of rising prices in the international market. Sources told CT that a petition was submitted before the Customs Valuation in which change in prices of Polyester Yarn was requested.
Sources said Valuation Ruling No: 709/2015 was issued on 23 January 2015. A meeting was held with the stakeholders on January 15, 2018.
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 the known foreign manufacturers of the item in question through which the actual current value could be ascertained.
Source said in this current month more than six meetings will be held by importers and it is possible that some database also be revised in this current month of January.